= Homework: HW8 Chapter 9 Question 2, E9-21 (simil... Part 3 of 8 > HW Score: 52%, 5.2 of 10 points Points: 3.2 of 8 Save Accelerate Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: (Click the icon to view the data.) The selling price per vehicle is $29,000. 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. Read the requirements. Data table Fixed manufacturing costs 2,200,000 2,200,000 Fixed operating costs 675,000 675,000 April May Operating income $ 4,100,000 $ 3,635,000 Unit data: Beginning inventory 0 50 (b) Prepare April and May 2017 income statements for Accelerate Motors under absorption costing. Complete the top half of the income statement for each mg variances as favorable (F) or unfavorable (U). If an account does not have a variance, do not select a label.) Production 500 400 Sales 450 420 April 2017 May 2017 Variable costs Revenues 13050000 12180000 $ 11,500 $ 11.500 Manufacturing cost per unit produced Operating (marketing) cost per unit sold 2,000 2,000 277500 Fixed costs: 5750000 4600000 Cost of goods sold: Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Deduct ending inventory Manufacturing costs 2200000 1760000 $ 2,200,000 $ 2,200,000 675,000 675,000 Operating (marketing) costs 2775000 6637500 (277500) (442500) Adjustment for production-volume variance 440000||U Print Done 2497500 6635000 Cost of goods sold Gross margin 10552500 5545000 Help me solve this Etext pages Get more help Clear all Final check