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Prepare April and May income statements for 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.

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Cool Car 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.) The selling price per vehicle is $26,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 600 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. Read the requirements. quirement 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. mplete all answer boxes. Enter a "0" for any zero balance accounts.) Requirement 1. Prepare April and May 2017 income statements for Accelerate Motors under (a) variable costing and (b) absorption costing. balance accounts.) April 2017 May 2017 \begin{tabular}{l} \hline Revenues \\ \hline Variable cost of goods sold: \\ \hline Variable operating costs \\ \hline Contribution margin \end{tabular} variances as favorable (F) or unfavorable (U). If an account does not have a variance, do not select a label.) April 2017 \begin{tabular}{l} \hline Revenues \\ \hline Cost of goods sold: \\ \hline Beginning inventory \\ Variable manufacturing costs \\ Allocated fixed manufacturing costs \\ Cost of goods available for sale \\ Deduct ending inventory \\ Adjustment for production-volume variance \\ Cost of goods sold \\ Gross margin \end{tabular} May 2017 May - =[] - Data table