During the first month of operations ended May 31, Big Sky Creations Company produced 55,500 designer cowboy boots, of which 51,350 were sold Operating data for the month are summarized as follows: 1 Sales 5924,300.00 2 Manufacturing costs: Direct materials 5416.250.00 4 Direct labor 111.000.00 5 55.500.00 6 Variable manufacturing cost Fired manufacturing cost Selling and administrative expenses 55.500.00 658.250.00 3 Variable $50.810.00 25.675.00 9 Ford 56,485.00 During June, Big Sky Creations produced 47 200 designer cowboy boots and sold 51,350 cowboy boots Operating data for June are summarized as follows 1 Sales $924.500.00 2 Manufacturing costs 3 Direct materials $554.000.00 Direct labor 94,400.00 4.200.00 55.500.00 551.100.00 5 Variable manufacturing cont Foed mandacturing cost 1 Selling and administrative expenses Variable 550.810.00 25.675.00 56,485.00 Required: 1. Using the absorption costing concept prepare income statements for a May and ) June 2. Using the variable costing concept prepare income statements for way and ) June 3a. Explain the reason for the differences in operating income in and (2) for May 3. Explain the reason for the differences in operating coment) and (2) for June 4. Based on your answers to (1) and (2) did Big Sky Creations Company operate more profitably in Mayor in June? Explain Be sure to complete the statement heading to the list of Labels and Amount Descriptions provided for the exact wording of the answer choice for entries A colon () will automatically appear is required Enter amounts sportives is the amount is calculation that results in a negative amount For example on should be negative