Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 10,500 flat panel televisions, of which 9,700 were sold. Operating data for the month are summarized as follows: Sales $1,455,000 Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost $745,500 220,500 189,000 94,500 1,249,500 Selling and administrative expenses Variable $116,400 53,500 169,900 Fixed Required: 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 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: YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold: 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: Fixed costs: 3. Explain the reason for the difference in the amount of income from operations reported in (1) and (2). costing exceeds the income from operations reported manufacturing costing by the difference between the two, due to costing. under costs that are deferred to a future month under