During the first month of operations ended March 31, IceBox. Fridgeration Company manufactured 46,000 mini refrigerators, of which 42,000 were sold. Operating data for the month are summarized as follows: 2. Prepare an income statement based on the variable costing concept. Income Statement Instructions IceBox Fridgeration Company Variable Costing income Statement Final Question 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 costing, due to manufacturing costs that are deferred to a future month under costing. 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)