X - Data Table April May Unit data: 0 150 Beginning inventory Production 400 350 Sales 250 475 Variable costs: Manufacturing cost per unit produced $ 12,000 $ 12,000 Operating (marketing) cost per unit sold 2,000 2,000 Fixed costs: Manufacturing costs $ 2,200,000 $ 2,200,000 Operating (marketing) costs 500,000 500,000 The selling price per vehicle is $29,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 400 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Print Done variable costing income statements April 2017 May 2017 Revenues $ 7,250,000 $ 13,775,000 Variable costs: $ 0 4,800,000 $ 1,800,000 4,200,000 Beginning inventory Variable manufacturing costs Cost of goods available for sale Less: Ending inventory Variable cost of goods sold Variable operating costs 4,800,000 (1,800,000) 6,000,000 (300,000) 3,000,000 500,000 5,700,000 950,000 3,500,000 6,650,000 Total variable costs Contribution margin Fixed costs: 3,750,000 7,125,000 Fixed manufacturing costs Fixed operating costs 2,200,000 500,000 2,200,000 500,000 Total fixed costs 2,700,000 2,700,000 $ 1,050,000 $ 4,425,000 Operating income Print Done X 1 absorption costing income statements April 2017 $ 7,250,000 May 2017 $ 13,775,000 Revenues $ 0 $ 2,625,000 4,800,000 2,200,000 4,200,000 1,925,000 7,000,000 (2,625,000) 0 8,750,000 (437,500) 275,000 u Cost of goods sold: Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory Adjustment for production-volume variance Cost of goods sold Gross margin Operating costs: Variable operating costs Fixed operating costs Total operating costs 4,375,000 8,587,500 2,875,000 5,187,500 950,000 500,000 500,000 500,000 1,000,000 $ 1,875,000 1,450,000 $ 3,737,500 Operating income Print Done 1 Data Table -X April May $ 6,400 $ 6,400 Direct material cost per unit Direct manufacturing labor cost per unit Manufacturing overhead cost per unit 1,200 1,200 4,400 4,400 Print Done The variable manufacturing costs per unit of Speedy Motors are as follows: (Click the icon to view the variable manufacturing costs per unit.) Speedy Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable costing and absorption costing income statements relating to April and May 2017 are as follows: (Click the icon to view the data.) (Click the icon to view the variable costing income statements.) (Click the icon to view the absorption costing income statements.) Read the requirements. Requirement 1. Prepare income statements for Speedy Motors in April and May 2017 under throughput costing. Begin by completing the top portion of the statement, then the bottom portion. (Complete all answer boxes. Enter a "0" for any zero amounts.) April 2017 May 2017 Revenues
