Absorption and Variable Costing Income Statements During the first month of operations ended July 31. Yo San Inc manufactured 11.100 lat panel televisions, of which 10,400 were sold Operating data for the month are summarized as follows: Sales $1,320,000 Manufacturing costs Direct materials 5910,200 Direct labor 277,500 Vanable manufacturing cost 233, 100 Fixed manufacturing cost 122,100 1,542,900 Selling and administrative expenses: Variable $145,600 Fixed 67,000 212,600 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: Fixed costs: 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2) 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: ni 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2) The operating income reported under costing exceeds the operating income reported under * manufacturing costs that are deferred to a future month under costing costing, due to Previous Next