Revenues Variable costs: Beginning inventory April 2017 May 2017 $15,225,00 $11,600,000 0 $0 $900,000 Variable manufacturing costs 4,500,000 4,275,000 Cost of goods available for sale 4,500,000 5,175,000 Less: Ending inventory (900,000) (450,000) Variable cost of goods sold 3,600,000 4,725,000 Variable operating costs 1,600,000 2,100,000 Total variable costs 5,200,000 6,825,000 Contribution margin 6,400,000 8,400,000 Fixed costs: Fixed manufacturing costs 2,400,000 2,400,000 Fixed operating costs 625,000 625,000 Total fixed costs 3,025,000 3,025,000 Operating income $3,375,000 $5,375,000 O Revenues Cost of goods sold: April 2017 $11,600,000 May 2017 $15,225,000 Beginning inventory $0 $1,380,000 Variable manufacturing costs 4,500,000 4,275,000 Allocated fixed manufacturing costs 2,400,000 2,280,000 Cost of goods available for sale 6,900,000 7,935,000 Less: Ending inventory (1,380,000) (690,000) Adjustment for production-volume variance 0 120,000 U Cost of goods sold 5,520,000 7,365,000 Gross margin 6,080,000 7,860,000 Operating costs: Variable operating costs 1,600,000 2,100,000 Fixed operating costs 625,000 625,000 Total operating costs 2,225,000 2,725,000 Operating income $3,855,000 $5,135,000 i Data Table April May Direct material cost per unit $ 7,000 $ 7,000 Direct manufacturing labor cost per unit 1,200 1,200 Manufacturing overhead cost per unit 800 800 Print Done E9-22 (similar to) Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable costing and absorption costing income statements relating to April and May 2017 are as follows: i Requirements - The variable manufacturing costs per unit of Speedy Motor | (Click the icon to view the variable manufacturing cost e requirements. 1. Prepare income statements for Speedy Motors in April and May 2017 under throughput costing. 2. Contrast the results in requirement 1 with the absorption and variable costing income statements presented. 3. Give one motivation for Speedy Motors to adopt throughput costing. throughput costing. answer boxes. Enter a "0" for any zero amounts.) May 2017 Print Done Choose from any list or enter any number in the input fields and then click Check Answer i Data Table Unit data: Beginning inventory Production Sales April May 0 100 500 475 400 525 Variable costs: Manufacturing cost per unit produced 9,000 $ 9,000 Operating (marketing) cost per unit sold 4,000 4,000 Fixed costs: Manufacturing costs Operating (marketing) costs $ 2,400,000 $ 2,400,000 625,000 625,000 The selling price per vehicle is $29,000. 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. Print Done