Question 3 (12 marks) Variable versus Absorption Cy Motors assembles and sells vehicles and uses standard costing. Actual data for April 201x May Results Unit data Beginning Inventory Production Sales 0 400 325 7S Variable costs Manufacturing cost per unit produced Operating (marketing) cost per unit sold 9,500 $ 2,000 Fixed costs: Manufacturing costs Operating (marketing) costs $ 1,750,000 $ 550,000 The selling price per vehicle is $20,00g. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 500 units. There are no price, efficiency, or rate variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. ng 1. Complete the partially prepared May 201x income statements under variable costi
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