Required: 1 Prepare an meome stantment based on the absoption costing concept * 2 Prepaic an income statement based on the varable cestria cencept. 3 Explan the reston for the difference in the amount of income fom operations reported in (t) and (2) 3. Explain the reason for the difference in the amount of income from operations reported in (1) and (2) The income trom operations reported under costing exceets the income from coeratoms reported under costing ty the difference betimen the two, die to manufactuing costs that are deterred to a fudire month undes eoshing Required: 1 Prepare an meome stantment based on the absoption costing concept * 2 Prepaic an income statement based on the varable cestria cencept. 3 Explan the reston for the difference in the amount of income fom operations reported in (t) and (2) 3. Explain the reason for the difference in the amount of income from operations reported in (1) and (2) The income trom operations reported under costing exceets the income from coeratoms reported under costing ty the difference betimen the two, die to manufactuing costs that are deterred to a fudire month undes eoshing