Exercise 6-2 (Algo) Variable Costing Income Statement; Explanation of Difference in Net Operating Income (L06-2] Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $910. Selected data for the company's operations last year follow 310 280 30 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ $ $ 130 350 se 40 $ 62,000 $ 26,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of goods sold frontrol $ 254,800 204400 SALAM Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Company Variable Costing Income Statement Sales Nariable expenses: Variable cost of goods sold 0 0 0