PLEASE NEED BOTH 2 REQUIREMENTS DONE! I WILL GIVE THUMBS UP! :)

Race Track Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: E: (Click the icon 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 per unit is 400 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements Requirement 1. Prepare April and May 2017 income statements for Race Track Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2017 income statements for Race Track Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts.) April 2017 May 2017 Data table April May 0 50 400 375 350 385 Unit data: Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ 11,000 $ 2,000 11,000 2,000 $ 2,000,000 $ 2,000,000 650,000 650,000 Print Done Adjustment for production-volume variance V Score: 0%, Points: 0 of 1 Allocated fixed manufacturing costs Race as fo Beginning inventory ndard costing. A Contribution margin The : cost Cost of goods available for sale cost Reac Deduct ending inventory ction used to cal rariances. Any p Race Track Moto Fixed manufacturing costs Reqi abso Fixed operating costs (a) P incor Gross margin balar Operating income | lotors under vari : tion. (Complete a 2017 Revenues Variable cost of goods sold Variable manufacturing costs