Spoody Motors ambles and tell motor vehicles and uses standard costing. Actual data relating to Apell day 2020 are as follows BID (Click the icon to view the data) The selling price per vehicle is $28,000 The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 400 units. There are no price, odlicency, or spending variances Any production-volume variance is written off to cost of 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 (a) Propare April and May 2020 Income statements for Speedy Motors under variable conting Complete the top half of the Income statement for each month fest. then complete the bottom portion (Complete all input fields. Enter a "O" for any zero balance accounts) April 2020 May 2020 Revenues Variable cost of goods sold 1. Prepare April and May 2020 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 Print Done A B and April May osting 2 Unit data statement for each mont incod ona 3 0 150 Beginning inventory Production 4 400 325 15 Sales 250 455 6 Variable costs $ 11.000 $ 11.000 4000 4.000 7 Manufacturing cost per unit produced 8 Operating (marketing) cost per unit sold 9 Fixed costs 10 Manufacturing costs 11 Operating (marketing costs $ 2.000.000 $ 2.000000 800.000 800 000 Question Help Speedy Motors assembles and tells motor vehicles and uses standard conting Actual data relating to April and May 2020 are as follows Click the icon to view the data) The selling price per vehicle is 528,000. The budgeted level of production uned to calculate the budgeted manufacturing cost per unit is 100 units. There are no price, eliconey, or spending variances Any production-volume variance is written off to cost of 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 (a) Prepare April and May 2020 income statements for Speedy Motors under variable costing Complete the top half of the income statement for each month first, then complete the bottom portion (Complete all input fields. Enter a "O" for any zero balance accounts) April 2020 May 2020 Revenues Variable cost of goods sold TUR . B C ostin April May state 2 Unit data: 3 Beginning inventory 0 150 4 Production 400 325 5 Sales 250 455 11.000 $ 11.000 4.000 4.000 6 Variable costs: 17 7 Manufacturing cost per unit produced 8 Operating (marketing) cost per unit sold 9 Fixed costs 10 Manufacturing costs 11 Operating (marketing) costs $ 2.000.000 $2,000,000 800.000 800.000 1. Prepare April and May 2020 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
