Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May $2020$ are as$$ follows:

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The selling price per vehicle is $ $26$ comma $000.$ The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is $600$ 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. Requirement 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.$)$