During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 48,000 mini refrigerators, of which 44,000 were sold. Operating data for the month are summarized as follows:     1 Sales   $8,800,000.00 2 Manufacturing costs:     3 Direct materials $3,360,000.00   4 Direct labor 1,344,000.00   5 Variable manufacturing cost 816,000.00   6 Fixed manufacturing cost 528,000.00 6,048,000.00 7 Selling and administrative expenses:     8 Variable $528,000.00   9 Fixed 352,000.00 880,000.00   Required: 1. Prepare an income statement based on the absorption costing concept.* 2. Prepare an income statement based on the variable costing concept.*

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