The selling price per vehicle is $24000. The budgeted level of production used t

The selling price per vehicle is $24000. The budgeted level of production used to calculate the bud; 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. If you want to use Excel to solve this exercise go to the Excel Lab at www.prenhall.com/hornqren/costl3e and download the template for Exercise 9-16.1. Prepare April and May 2008 income statements for Nascar Motors under (a) Variable costing and (b) Absorption costing.2. Prepare a numerical reconciliation and explanation of the difference between operating income each month under variable costing and absorptioncosting.