eBook Show Me How Calculator Absorption and Variable Costing Income Statements During the first month of operations ended July 31, Yo San Inc, manufactured 11,900 flat panel televisions, of which 11,100 were sold. Operating data for the month are summarized as follows: Sales $1,720,500 Manufacturing costs: Direct materials $868,700 Direct labor 261,800 Variable manufacturing cost 226,100 Fixed manufacturing cost 107,100 1,463,700 Selling and administrative expenses: Variable $133,200 Fixed 61,300 194,500 Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold: Bock Show Me How Calculator TORSD Cost of goods sold: 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: Check My Work Next > eBook Show Me How Calculator 2. Prepare an income statement based on the variable costing concept. YoSan Inc Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: Fixed costs: dropdown 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 manufacturing costs that are deferred to a future month under costing costing, due Check My Work Next Email Instructor Save and Exit Submit Assignment for Grading