2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: Cost of goods manufactured Fixed costs: 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2). The operating income reported under costing exceeds the operating income reported under costing, due to manufacturing costs that are deferred to a future month under costing. Absorption and varlable costing income statements During the first month of operations ended July 31, YoSan Inc. manufactured 10,000 flat panel televisions, of which 9,300 were sold. Operating data for the month are summarized as follows: 1. Prepare an income statement based on the absorption costing concept