Absorption and Variable Costing income Statements During the first month of operations ended July 31, Yosan Inc, manufactured 8,800 fat panel televisions, of which 8 , 100 were sold, Operating tata for the menth are summanted as follows: 1. Prepare an income statement based on the absorption costing concept. 1. Prepare an income statement based on the absorption costing concept. 2. Prepare an income statement based on the variable costing concept. 3. Explain the reason for the difference in the amount of operating income 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2). costing, due to The operating income reported under costing exceeds the operating income reported under munufacturing costs that are deferred to a future month under