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During the first month of ogerations ended August 31, Kodiak Fridgeration Company manufactured 40,000 mini refigerators, of which 35 , 000 were sold Operating data for the month are summarized as folows Required: 1 Prepare an income tzatement based on the absongtion coating concone. 2. Prepare as income stalement based on the varable costing concept * 3. Explain the reason for the ailerence in the amaint of opewating income roserted in (I) and (2) "Be sue so complete the statement feading. Refer to the list of Labeis and Amount Deocriptons provided for me exact wording af me angabr 1. Prepare an income tatement based on the absombion costing concept. Be tuve to compiete the starement heading Refer to the ist of Labels and atmount Doscnptons provied for the exact amount for example Net loas thould be negutye. Variable Costing Income Statement Kodiak Fridgeration Company Score: 61/98 Variable Costing Income Statement For the Month Ended August 31 1 Sales 2. Variable cost of goods sold: 5 Inventory. August 31 4. Variable cost of goods manufactured 5 Total variable cost of goods sold 6. Manufacturing margin 1. Variable selling and administrative expenses 4. Contribution margin 9) Fixed costs: 10. Fixed manufacturing costs i1 Fixed selling and administrative expenses 11. Total fixed costs 11) Operating income