During the frst month of operatons ended August 34, Kodiak Fridgeration Company manufactured 44,000 mini fatriperators, of which 39,000 were sold: Operating data lor the month are summarized as follows: Hequired: 1. Prepare an income statement based on the absomption costing ooncopt. 2. Prepare an income statement based on the variable costing concept. 3. Explain the reason for the diterence in the amount of income trom operatons reportid in (1) and (2): F Reler to the Ists of Labels and Amount Descriptians for the exact wording of the answer cholces for taxt entries. De sure to compiote the statement heading A colbn (a) wil automabicaly appear if required. Enher inventory. August 31 , as a negative number using a minus sign if a nef loss is incurred, enter that amount as a negatve number using a minis sign. Abseption Costing Income Statement shatiod colls have lesedbeck. 1. Prepare in nicome statement based an the absorpton costing concept. Aeter to the fists or Labels and Amount Descriptons for the exact wording of the answer choices for fext entries. Be sure to complete the statement heading. A colon (4) wid automaticaty appear if required. Enter inventons Augusf 31 as a negative number using a minus segn. If a net loss is incurned, anter that amoun as a negative number using a minus sign. Score: 0/68 Kodiak Fridgeration Company Absorption Costing Income Statement (Label) 1 2 (Label) 3 4. 5 6 7 8 2. Prepare an inoome statement based on the variable costing concept. Refer to the lists of Labets and Amount Descriptions for the exact wording of the answer choices for fext entries. Be. sure to complete the statement heading. A colan (I wil automaticady appear it required. Enter irventang, August 3 as a negative mumber using a minus sign. If a net bss is incurred, enter that amount as a negative number using a minus sign Ounetefinn mnt ntramananl