Speedy Motors assemblies and sols motories and uses standard costing Actual data relating to Art and May 2017 re as follows the con to view the data) The selling price per vehicle 5525,000. The budgeted level of production used to calculate the budgeted fred manufacturing cost per unit is suis There are no price, effcency or spending variances. Any production volume ance is written off cost of goods solidne monthin which cours Read the Requirements. Prepare Atland May 2017 income statements for Speedy Motors under variable conting and Dption costing Preparo Apti end May 2017 ncome statements for Speedy Motors under variable costing Complete the top hat of the income statement for each month first, then complete the bottor portion (Complete al answer bonos Ender a tot any zero balance accounts) April 2017 III Data table April May 0 500 450 50 450 480 Unit data: Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs Manufacturing costs Operating (marketing) costs $ 11,000 $ 2,000 11,000 2,000 $ 2,200,000 $ 2,200,000 675,000 675,000 > Requirements 1. Prepare April and May 2017 income statements for Speedy Motors under (a) variable costing and (b) absorption costing 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing