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

$($Click the icon to view the data.$)$

goods sold in the month in which it occurs.

Read the requirements.

Requirement $1.$ Prepare April and May $2020$ income statements for Speedy Motors under $($a$)$ variable costing and $($b$)$ absorption costing.

balance accounts.$)$

Requirements

Prepare April and May $2020$ income statements for Speedy Motors under $($a$)$

variable costing and $($b$)$ absorption costing.

Prepare a numerical reconciliation and explanation of the difference between

operating income for each month under variable costing and absorption

costing.

Data table