Score: 0.35 of 1 pt E9-21 (similar to) 1 of 5 (2 complete) HW Score: 16.47%, 0.82 of 5 pts Question Help Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2020 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 400 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. 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 Fixed manufacturing costs Fixed operating costs Operating Income $ S 3,200,000 3,200,000 (800,000) 800,000 2,400,000 3,200,000 (160,000) 2,400,000 3,040,000 1,080,000 1,388,000 5,520,000 6,992,000 2,200,000 2,200,000 500,000 2,820,000 500,000 $ 4,282,000 Requirements 1. Prepare April and May 2020 income statements for Speedy 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 Print Done (b) Prepare April and May 2020 income statements for Speedy Motors under absorption costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Enter a "0" for any zero balance accounts. Label any variances as favorable (F) or unfavorable (U). If an account does not have a variance, do not select a label.) Revenues Cost of goods sold: Beginning inventory April 2020 9,000,000 Variable manufacturing costs 3,200,000 Allocated fixed manufacturing costs Cost of goods available for sale 0 Deduct ending inventory Adjustment for production-volume variance Cost of goods sold Grass margin Choose from any list or enter any number in the input fields and then click Check Answer. parts 5 remaining May 2020 11,400,000 Data Table B C April May 2 Unit data: 3 Beginning inventory 4 Production 5 Sales 0 100 400 300 300 380 6 Variable costs: 7 Manufacturing cost per unit produced $ 8 Operating (marketing) cost per unit sold Fixed costs: 8,000 $ 3,600 8,000 3,600 10 Manufacturing costs $ 2,200,000 $ 2,200.000 Clea Check Answer 11 Operating (marketing) costs 500,000 500.000