Abbyorption and Variable Costing Income Statements Duting the first month of operntions ended July 3t, Yosan the manufactured 9,700 fst panel televisons, of which 9,000 were sold. Operating data for the manti are summarited as follows: 1. Pregare an income statement hased on the absorstican costing contepe 2. Prepare an income statement based on the variable costing concept. 3. teqlain the reason for the difference if the amount of intome from operatiens reported in (1) and (2). The income from operations reported unded costing evceeds the incame frem operatisns ifperted under between the two, due to manufacturing cous that are deferred to a future month underi costing by the deferencit costing