Race Track Motors sembles 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 $21,000. 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 Vrou may IT HARISOL HAMURI URUSI HIBURONG WINGS SHOP WITH SIDEBAR WISH LIST PRISE DHOBI WWW.LIBURU II ....... April 2017 May 2017 Revenues $ 11,550.000 $ 15,120,000 Variable cost of goods sold X Beginning inventory Data Table 0 $ 1.425,000 Variable manufacturing costs 6.660.000 5,700,000 Cost of goods available for sale 6,660.000 7,125,000 April May Deductanding inventory (1,425,000) (285.000) Unit data Variable cost of goods sold 5.225 000 6,840,000 Beginning inventory 0 150 Variable operating costs 1,320,000 1,728,000 Production 700 800 Contribution margin 5,005 000 6,552,000 Sales 550 720 Fixed manufacturing costs 2,100,000 2,100,000 Variable costs Fixed operating costs 625,000 625,000 Manufacturing cost per unit produced $ 9500 $ 9,500 $ 2,200,000 $ 3.827,000 Operating income Operating (marketing) cost per unit sold 2.400 2,400 Fixed costs: (b) Prepare April and May 2017 income statements for Race Track Motors under absorption casting Complete the top half of the income statement for each month first, then complete the bottom portion (En Manufacturing costs not have a variance, do not select a label.) $ 2.100.000 $ 2,100,000 an account de Operating marketing) coats 625.000 625,000 April 2017 May 2017 Revenues 11,550,000 15,120,000 Cost of goods sold Beginning inventory 0 Print Done Variable manufacturing costs 6,650,000 5,700,000 Allocated in manufacturing costs 2,100,000 Cost of goods available for sale 8.750,000 Deductanding Inventory Adjustment for production-volume variance 0 U Cost of goods sold Gross margin Pint Dona