$1$ References Help Save & Exit Submit Check my work Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $$850.$ Selected data for the company's operations last year fThe absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ $191,250157,50033,75024,500$ $$9,250$ Required: $1.$ Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? $2.$ Prepare an income statement for last year using variable costing.ollow: Required: $1.$ Assume the company uses absorption costing. Compute the unit product cost for one gamelan. $2.$ Assume the company uses variable costing. Compute the unit product cost for one gamelan.