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Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable costing and absorption costing statements of comprehensive income relating to
Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable costing and absorption costing statements of comprehensive income relating to April and May are as follows. (Click the icon to view the data.) (Click to view the variable costing statements of comprehensive income.) (Click to view the absorption costing statements of comprehensive income.) The variable manufacturing costs per unit of Speedy Motors are as follows. (Click the icon to view the variable manufacturing costs per unit.) Required Requirement 1. Prepare operating statements of comprehensive income for Speedy Motors in April and May under throughput costing. Begin by completing the top portion of the statement. (Enter an amount in all input areas.) April May Revenue V x Data April May Unit data: Beginning inventory 0 50 Production 500 475 Sales 450 505 Variable costs: Manufacturing cost per unit produced $ 12,000 $ 12,000 Operating (marketing) cost per unit sold 2,600 2,600 Fixed costs: Manufacturing costs $ 2,200,000 $ 2,200,000 Operating (marketing) costs 650,000 650,000 The selling price per vehicle is $22,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 500 units. There are no price, efficiency, or rate variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Print Done
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