F70252Fbl... A Saved Exercise 6-2 (Algo) Variable Costing Income Statement; Explanation of Difference in Net Operating Income [LOG-2] points Ida Company produces a handcrafted musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $960. Selected data for the company's operations last year follow: 02-15:00 Units in beginning inventory Units produced 230 Units sold 209 Units in ending inventory 30 Book Variable costs per unit: Direct materials 119 Direct labor $326 Variable manufacturing overhead $ 30 Hint Variable selling and administrative $ 10 Fixed costs: Fixed manufacturing overhead $69, 090 Fixed selling and administrative 3 27, 090 Print The absorption costing Income statement prepared by the company's accountant for last year appears below. References Sales $ 192, 090 Cost of goods sold 152, 009 Gross margin Selling and administrative expense 29, eau Net operating income $ 11, bee 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 Complete this question by entering your answers in the tabs below. Next > Mc Prev 7 of 3 #8 Grav Clear