50.1K

Verified Solution

Link Copied!

show the math how you get the numbers thanks

%E9-21 (similar to) Question Help i Requirements Race Track Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: E (Click the loon to view the data.) The selling price per vehicle is $23,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 700 units. There ar written off to cost of goods sold in the month in which it occurs. Read the requirements Requirement 1. Prepare April and May 2017 income statements for Race Track Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2017 income statements for Race Track Motors under variable costing. Complete the top half of the income statement for each month any zero balance accounts.) April 2017 May 2017 A Data Table 1. Prepare April and May 2017 income statements for Race Track 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 April May Unit data: 0 100 Beginning inventory Production Sales 700 675 600 750 $ 12.000 $ 12,000 3,200 3,200 Choose from any list or enter any number in the input fields and then click Check Answer. Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs ? 7 parts remaining $ 2,100,000 $ 2,100,000 675,000 675,000 Check

Answer & Explanation Solved by verified expert

See Answer