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. Click the icon to view the data) 2 Click the icon to view the variables costing income staternents.) Click the icon to view the absorption costing income statements.) The variable manufacturing costs per unit of Speedy Motors are as follows Click the icon to view the variable manufacturing costs per unit) Read the requirements Requirement 1. Prepare Income statements for Speedy Motors in April and May 2017 under throughput costing Begin by completing the top portion of the statement, then the bottom portion (Complete all answer boxes Enter a "O for any zero amounts.) April 2017 May 2017 April May 0 50 Unit data: Beginning inventory Production Sales 500 450 450 450 Variable costs Variable costs: $ 10,500 $ 4,000 10,500 4,000 Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs Manufacturing costs Operating (marketing) costs $ 2,000,000 $2,000,000 650,000 650,000 Tixed COSIS Manufacturing costs $ 2,000,000 $ 2,000,000 Operating (marketing) costs 650,000 650,000 The selling price per vehicle is $27,000. 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 prodction-volume variance is written off to cost of goods sold in the month in which it occurs. April 2017 $ 12,150,000 May 2017 $ 12,150,000 Revenues Variable costs Beginning inventory Variable manufacturing costs Cost of goods available for sale $ 0 $ 525,000 4,725,000 5,250,000 5,250,000 5,250,000 (525,000) (525,000) Less Ending inventory Variable cost of goods sold 4,725,000 1,800,000 Variable operating costs 4.725,000 1,800,000 Total variable costs 6,525,000 6,525,000 Contribution margin 5,625,000 5,625,000 5,625,000 5,625,000 Contribution margin Fixed costs Fixed manufacturing costs Fixed operating costs 2,000,000 650,000 2,000,000 650,000 Total fixed costs 2.650,00 2,650,000 $ 2.975,000 $2.975,000 re Fixed costs 4 Fixed manufacturing costs Fixed operating costs Total fixed costs 2,000,000 650,000 2,000,000 650,000 2,650,000 2,650,000 Operating income $ 2,975,000 $ 2.975,000 bsorption costing income statements - April 2017 $ 12,150,000 May 2017 $ 12,150,000 Revenues Cost of goods sold Beginning inventory Variable manufacturing costs 5 $ 0 5,250,000 2,000,000 725,000 4.725,000 1,800,000 Allocated fixed manufacturing costs 7.250,000 7,250,000 (725,000) 0 (725,000) 200.000 Cost of goods available for sale Less Ending inventory Adjustment for production-volume variance Cost of goods sold Gross margin Operating costs 6,525,000 6,725,000 5,625,000 5,425,000 Operating costs Variable operating costs Fixed operating costs Total operating costs 1,800,000 650.000 1.800,000 650,000 2,450,000 2.450,000 $ 3,175,000 Operating Income 2.975,000 Data table May April $ 7,000 $ 2,000 Direct material cost per unit Direct manufacturing labor cost per unit Manufacturing overhead cost per unit 7,000 2.000 1,500 1,500 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 Requirement 1. Prepare income statements for Speedy Motors in April and May 2017 under throughput costing Begin by completing the top portion of the statement, then the bottom portion (Complete all answer boxes. Enter a "O" for any zero amounts) April 2017 May 2017 Revenues