Joplin Industries Inc. manufactures and sells high-quality sporting goods equipment under its highly recognizable J-Sports logo. The company began operations on May 1 and operated at 100% of capacity (88,000 units) during the first month, creating an ending inventory of 6,000 units. During June, the company produced 80,200 garments during the month but sold 86,200 units at $92 per unit. The June manufacturing costs and selling and administrative expenses were as follows: Number of Units Unit Cost Total Cost Manufacturing costs in June 1 beginning inventory: Variable 6,000 $52 $ 312,000 Fixed 6,000 8 48,000 Total $60 $360,000 Manufacturing costs in June: Variable 80,200 $52 $ 4,170,400 Fixed 80,200 10 802,000 Total $62 $4,972,400 Selling and administrative expenses in June: Variable 86,200 $24 $ 2,068,800 Fixed 86,200 4 344,800 Total 28 $2,413,600 Required: a. Prepare an income statement according to the absorption costing concept for June.* b. Prepare an income statement according to the variable costing concept for June.* c. What is the reason for the difference in the amount of income from operations reported in (a) and (b)? * Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign.