During the first of the month of operations ended August 31, Kodiak Fridgeration company

Instructions During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 46,000 mini refrigerators, of which 42,000 were sold. Operating data for the month are summarized as follows: 1 Sales $9.660,000.00 Manufacturing costs: Direct materials $3,220,000.00 Direct labor 1,380,000.00 Variable manufacturing cost 828,000,00 Fixed manufacturing cost 506,000.00 5,934,000.00 7Selling and administrative expenses: Variable $756,000,00 Fixed 294,000.00 1,050,000,00 Check My Work Labels and Amount Descriptions Instructions Absorption Costing Income Statement Absorption Costing Income Statement 1. Prepare an income statement based on the absorption costing concept. Be sure to complete the statement heading Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Kodiak Fridgeration Company Absorption Costing Income Statement (Label) 2 abel) 7 Next Previous Check My Work Variable Costing Income Statement 2. Prepare an income statement based on the variable costing concept. Be sure to complete the stafement heading. Refer to the ist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear it it is required. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Kodiak Fridgeration Company Variable Costing Income Statement (Label) 2Label) Next Previous Check My Work 3:35 SAMSUNG Instructions Labels and Amount Descriptions Absorption 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 Next Previous 3:35 Check My Work SAMSUNG