Points: 0 of 1 FastRide Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2020 are as follows: (Click the icon to view the data.) The selling price per vehicle is $27,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 700 units. There are no price, efficiency, written off to cost of goods sold in the month in which it occurs. spending variances. Any production-volume variance is Read the requirements. input fields. Enter a "O" for any Requirement 1. Prepare April and May 2020 income statements for FastRide Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2020 income statements for FastRide Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete zero balance accounts.) April 2020 May 2020 Revenues 17550000 18765000 Variable cost of goods sold: Beginning inventory 0 525000 Variable manufacturing costs 7350000 7087500 Cost of goods available for sale 7350000 7612500 Deduct ending inventory Variable cost of goods sold Variable operating costs Contribution margin ducti x Sciency, Data table A B 1 April May For F 2 Unit data: N | | Motors 3 Beginning inventory 0 50 Jete the 4 Production 700 675 pril 2 5 Sales 650 695 100 6 Variable costs: 600 voor 7 $ 10,500 $ 10,500 Manufacturing cost per unit produced Operating (marketing) cost per unit sold 8 3,200 3,200 9 Fixed costs: U8 180 10 $ 2,100,000 $ 2,100,000 Manufacturing costs Operating (marketing) costs 11 650,000 650,000 Print Done - d level of producti it occurs. X ciency, or spending variances. Data table B Requirements statements for Fa r FastRide Motors Jete the bottom portion. (Comple April 2 1. Prepare April and May 2020 income statements for FastRide Motors under (a) variable costing and (b) absorption costing. 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. 0 7350000 7350000 Print Done Print Done FastRide Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2020 are as follows: Click the icon to view the data.) The selling price per vehicle is $27,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 700 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 2020 income statements for FastRide Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2020 income statements for FastRide Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion (Complete all input fields. Enter a "O" for any zero balance accounts.) April 2020 17550000 May 2020 18765000 525000 7087500 7350000 Revenues Variable cost of goods sold: Beginning Inventory Variable manufacturing costs Cost of goods available for sale Deduct ending inventory Variable cost of goods sold Variable operating costs Contribution margin 7350000 76125001 Data table A B C 1 April May 2 Unit data: 3 Beginning inventory 0 50 4 Production 700 675 5 Sales 650 695 6 Variable costs: 7 $ 10,500 $ 10,500 Manufacturing cost per unit produced Operating (marketing) cost per unit sold 8 3,2001 3,200 9 Fixed costs: 10 $ 2,100,000 $ 2,100,000 Manufacturing costs Operating (marketing) costs 11 650,000 650,000 1. Prepare April and May 2020 income statements for FastRide Motors under (a) variable costing and (b) absorption costing. 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing