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Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 10,800 flat panel televisions, of which 10,000 were sold. Operating data for the month are summarized as follows: 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 income from operations reported in (1) and (2). The income from operations reported under costing exceeds the income from operations reported under costing by the difference between the two, due to. manufacturing costs that are deferred to a future month under costing. 5 more Check My Work uses remaining