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Please fill out this absorption costing statement of comprehensive income and show calculations, thank you. Fast Ride Motors assembles and sells motor vehicles and uses
Please fill out this absorption costing statement of comprehensive income and show calculations, thank you.
Fast Ride Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2018 are provided. 3: (Click to view the data.) The selling price per vehicle is $22,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost production-volume variance is written off to COGS in the month in which it occurs. i Required 1. Prepare April and May 2018 statements of comprehensive income for Fast Ride Motors under (a) variable costing and (b) abs 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable Data do not select a label.) April May April 2018 May 2018 7700000 11550000 Unit data: Beginning inventory Production Sales Revenue Cost of goods sold: Beginning inventory Variable manufacturing costs 150 400 350 525 Variable costs: $ 6200000 2200000 8400000 (1860000) 8,000 $ 2,600 Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory 8,000 2,600 Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ Adjustment for production-volume variance 2,200,000 $ 600,000 2,200,000 600,000 Cost of goods sold Gross margin Print Done Choose from any list or enter any number in the input fields and then click CheckStep by Step Solution
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