During the first month of operations ended March $31,$ IceBox Fridgeration Company manufactured $48,000$ mini refrigerators, of which $44,000$ were sold. Operating data for the month are summarized as follows:

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Required:

$1.$ 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 operating income reported in $(1)$ and $(2).$