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FastRide

Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May

2020

are as follows:

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The selling price per vehicle is

$28,000.

The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is

500

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.

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requirements

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Part 1

Requirement 1. Prepare April and May

2020

income statements for

FastRide

Motors under (a) variable costing and (b) absorption costing.

(a) Prepare April and May

2020

income statements for

FastRide

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 "0" for any zero balance accounts.)

(Click the icon to vew the dota) Resd the roverments Data table FastRide Motors assembles and sells motor veticles and uses standard costing Actual data retoting to Aprit and May 2020 are as follows. Any probuction-velume varianee is writien oft to cost of goods sold in the menth in which it ocours Read the ceguirements Requiement 1, Propare Aprit and May 2020 income stalements for FantRide Motors under (a) varable costing and (0) absorption costinoErler a "0r for any cero balance accounts.) Data table (Click the icon to vew the dota) Resd the roverments Data table FastRide Motors assembles and sells motor veticles and uses standard costing Actual data retoting to Aprit and May 2020 are as follows. Any probuction-velume varianee is writien oft to cost of goods sold in the menth in which it ocours Read the ceguirements Requiement 1, Propare Aprit and May 2020 income stalements for FantRide Motors under (a) varable costing and (0) absorption costinoErler a "0r for any cero balance accounts.) Data table