During the first month of operations ended May 31, Big Sky Creations Company produced 56,000 designer cowboy boots, of which 52,450 were sold. Operating data for the month are summarized as follows: During June, Big Sky Creations produced 48,900 designer cowboy boots and sold 52,450 cowboy boots. Operating data for June are summarized as follows: Required: 1. Using the absorption costing concept, prepare income statements for (a) May and (b) June. 2. Using the variable costing concept, prepare income statements for (a) May and (b) June. 3a. Expiain the reason for the differences in operating income in (1) and (2) for May. 3b. Explain the reason for the differences in operating income in (1) and (2) for June. 4. Based on your answers to (1) and (2), did Big Sky Creations Company operate more profitabily in May or in June? Explain. 1a. Using the absorption costing concept, prepare income statements for May. Absorption Costing Income Statement-June 1b. Using the absorption costing concept, prepare income statements for June Income Statement Instructions Big Sky Creations Company Absorption Costing income Statement (cabol) 1 22 (Label) 1 5 2a. Using the vanable costing concept, prepare income statements for May. income Statement instructions 2b. Using the vanable costing concept, prepare income statements for June