Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows E: (Click the icon to view the data.) The seling 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 wait to cost of goods sold in the month in which it occurs Read the requirements for an Requirement 1. Prepare April and May 2017 income statements for Speedy Motors under (a) variable costing and (b) absorption costing (a) Prepare April and May 2017 income statements for Speedy Motors under variable costing. Complete the top half of the income statement for each balance accounts.) April 2017 May 2017 Data Table April May Unit dala 0 100 500 400 400 460 Beginning inventory Production Sales Vanable costs Manufacturing cost per unit produced Operating marketing) cost per unit sold Fixed costs Manufacturing costs Operating (marketing) costs S 8,000 $ 3.400 8.000 3,400 Requirements $ 2,000,000 S 500.000 2.000.000 500,000 Print Done 1. Prepare April and May 2017 income statements for Speedy Motors under (a) variable casting and (b) absorption costing 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under vanable costing and absorption costing Choose from any list on 7 parts remaining Print Done Clear All Check