Absorption and variable costing income statements

Contact Tech 600 lat panel teleons, of which 8.000 were sold Operating data for the month are sum e d as follows Absorption and Variable Costing Income Statements During the first month of operations ended July 31. Yo San Inc. manufactured Sales $1,160,000 Manufacturing costs: Direct materials $584,800 Direct labor 172.000 Variable manufacturing cost 146,200 Fored manufacturing cost 980,400 Selling and administrative expenses: Variable $95,000 Fixed 44.200 140.200 Required: 77.400 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold Previous Next 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: Faced costs: 3. Explain the reason for the difference in the amount of income from operations reported in (I) and (2) 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 certos reported under due to ancurg costs that we deered to a future month under conting costing by the d rence between the two