Race Track Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable The variable manufacturing costs per unit of Race Track Motors are as follows: costing and absorption costing income statements relating to April and May 2020 are as follows: (Click the icon to view the variable manufacturing costs per unit.) Data table variable costing income statements The selling price per vehicle is $21,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 500 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. absorption costing income statements Data table Requirements 1. Prepare income statements for Race Track Motors in April and May 2020 under throughput costing 2. Contrast the results in requirement 1 with the absorption and variable costing income statements presented. 3. Give one motivation for Race Track Motors to adopt throughput costing Requirement 1. Prepare income statements for Race Track Motors in April and May 2020 under throughput costing. Begin by completing the top portion of the statement, then the bottom portion. (Complete all input fields. Enter a "0" for any zero amounts.) Requirement 2. Contrast the results in requirement 1 with the absorption and variable costing income statements presented. In April, has the lowest operating income, whereas in May has the highest operating income. puts greater emphasis on sales as the source of operating income than does either Requirement 3. Give one motivation for Race Track Motors to adopt throughput costing. costing puts a penalty on production without a corresponding sale in the same period. Costs other than direct materials that are variable with respect to production are in the period of incurrence, whereas under variable costing they would be As a result, provides less incentive to produce for inventory than either