Income Statements under Absorptian Costing and Variable Costing Gallatin County Motors inc. assembles and sells snowmoble engines. The cornpany begaa operations on July I and operated at 100% of capacity during the first month. The following data summarize the results for July: a. Prepate an income statement aococding to fhe absorpbbe costing cencept. b. Prepare an income statement according to the variable costing concept. b. Under variabes costing, the cet of dooda manutactured incudes oniy variable manufacturing costs. C. What is the reason for the difference in the amburt of operating inceme reported in (a) and (b)? Unider the V methed, the fixed marudacturing cost induded in the cost of goode sod is natched winh the tevenues, under i inceme statement wit have a Noter operating income