BigScreen Corporation manufactures and sells televisions. Actual data relating to January, February, and March of $2020$ are:

It is now April $2020$ and BigScreen takes a look back on the actual data relating to January, February, and March $2020.$ They want to prepare monthly Statements of Operating Income $($based on actual figures above$)$ for all three months using the both Absorption Costing method and the Variable Costing method.

Required:

a$)$ Prepare the monthly Statement of Operating Income for the months of January, February, and March $2020$ under the Absorption Costing method.

b$)$ Prepare the monthly Statement of Operating Income for the months of January, February, and March $2020$ under the Variable Costing method.

c$)$ How do we explain the differences in monthly income between the two methods?