Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: LOADING... (Click the icon to view the data.) 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.

	April	May
Unit data:
Beginning inventory	0	50
Production	500	475
Sales	450	500
Variable costs:
Manufacturing cost per unit produced	$11,000	$11,000
Operating (marketing) cost per unit sold	2,200	2,200
Fixed costs:
Manufacturing costs	$2,000,000	$2,000,000
Operating (marketing) costs	675,000	675,000

(a) Prepare April and May

2017

income statements for

Speedy

Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts.)

			April 2017		May 2017
Beginning inventory				0		1200000
Variable cost of goods sold: