Absorption and variable costing income statements Instructions Labels and Amount Descriptions Absorption Costing Income Statement Variable Cesting Income Statement Final Question Instructions During the first month of operations ended August 31, Kodiax Frigeration Company manufached 50,000 mas refigerators, of which 44,000 were solid. Operating date for the month are summarized as f Sales Manufacturing costs Direct materials Direct labo Variable manufacturing cont $9.241.000.00 $1,500,000.00 1,200,000.00 850,000.00 Fond manufacturing c 600,000.00 6150.000.00 Selling and administrative expenses $572,000.00 " V 152.000.00 924.000.00 Fixed Required 1. Prepare an income statement based on the absorption coating concept 2 Prepare as income statement based on the varete costing concept 3. Explain the reason for the differem in the amount of income from operations reported in T) and Refer to the lists of Labels and Amount Dwarpone for the act wording of the answer hoces for Sectes De sure complete the statement heading. A colon ) will automatically appear frequired Enter Inventury August 31 as a negative number using a minus sign, Fa Type here to search.