PH 20-13 Absorption and variable ousting income statements Obi. 1. 2 During the rst month of operations ended July 51, YoSan Inc. manufactured 2,400 at panel televisions. of which 2,000 were sold. Operating data for the month are summarized as follows: Sales ................................................................. Manufacturing costs: Direct materials ..................................................... $960,000 Direct labor ........................................................ 420,000 Variable manufacturing cost ........................................ 156.000 Fixed manufacturing cost ........................................... 233,000 Selling and administrative expenses: Variable ............................................................ $204,000 Fixed ............................................................... 96,000 Instructions 1. Prepare an income statement based on the absorption costing concept. 2. Prepare an income statement based on the variable costing concept. 52.1 50.000 1,324,000 300,000 5. " Explain the reason for the difference in the amount of income from operations reported in (1) and (2)