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Race Track Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2 0 2 0 are as
Race Track Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May are as follows: Click the icon to view the data. The selling price per vehicle is $ The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is units. There are no price, efficiency, or spending variances. Any productionvolume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. Requirement Prepare April and May income statements for Race Track Motors under a Prepare April and May income statements for Race Track Motors under variable Costing AND absorption Costing. Complete all input fields. Enter a for any zero balance accounts. April 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 Data table tableABCApril,MayUnit data:,,Beginning inventory,Production,Sales,Variable costs:,,Manufacturing cost per unit produced,$Operating marketing cost per unit sold,Fixed costs:,,Manufacturing costs,$$
Race Track Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May are as follows: Click the icon to view the data.
The selling price per vehicle is $ The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is units. There are no price, efficiency, or spending variances. Any productionvolume variance is written off to cost of goods sold in the month in which it occurs.
Read the requirements.
Requirement Prepare April and May income statements for Race Track Motors under
a Prepare April and May income statements for Race Track Motors under variable Costing AND absorption Costing. Complete all input fields. Enter a for any zero balance accounts.
April
Revenues
Variable cost of goods sold:
Beginning inventory
Variable manufacturing costs
Cost of goods available for sale
Deduct ending inventory
Variable cost of goods sold
Variable operating costs
Contribution margin
Data table
tableABCApril,MayUnit data:,,Beginning inventory,Production,Sales,Variable costs:,,Manufacturing cost per unit produced,$Operating marketing cost per unit sold,Fixed costs:,,Manufacturing costs,$$
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