Race Track Motors assembles and sells motor vehicles and uses standard costing Actual data relating to April and May 2017 are as follows (Click the icon to view the data) The selling price per vehicle is $30,000. 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 Data Table i Requirements - X April May Unit data Beginning inventory 1. Prepare April and May 2017 income statements for Race Track 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 Production 500 450 Sales Print Done $ 11,000 $ 2,000 4950 COD 11,000 2,000 Variable costs Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs Manufacturing costs Operating (marketing) costs (330,000) 4,620,000 $ 2200,000 $ 750,000 2,200,000 750,000 840,000 ck Answer. Print Done Jear All Check