Saved Chapter 7 Graded Homework 3 78 Points 100 company ProCS LIGHUSILO SRC a on to a xylopro. Tre yameo $920. Selected data for the company's operations last year follow units in beginning inventory Units produced 275 Units sold 250 units in ending inventory 15 Variable costs per unit: Direct materials $110 Direct labor $ 320 variable manufacturing over head $ 40 Variable selling and administrative $ 15 Fixed costs: Fixed nanufacturing overhead $ 77,000 Fixed selling and administrative $ 33,000 The absorption costing income statement prepared by the company's accountant for last year appears below. ebook Hind References Sales cost of goods sold Gross margin selling and administrative expense Not operating income $ 239,200 105,000 44,200 36,900 $ 7,300 Required: 1. Under absorption costing, how much fixed manufacturing overneed cost is included in the company's inventory at the end of last 2. Prepare an income statement for last year using variable costing. year? Complete this question by entering your answers in the tabs below. Saved Chapter 7 Graded Homework 3 The absorption costing Income statement prepared by the company's accountant for last year appears below. Sales $ 239,200 Cost of goods sold 195,000 Gross margin 44,200 selling and administrative expense 36,900 Net operating income $ 7,300 1.78 points Book Hint Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end 2. Prepare an income statement for last year using variable costing year? Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Fixed manutacturing overhead cost included in inventory Required 2 > Saved Chapter 7 Graded Homework 3 2. Prepare an income statement for last year using variable costing. Complete this question by entering your answers in the tabs below. 178 points Required 1 Required 2 Roch Prepare an income statement for last year using variable costing. Hint Ida Company Variable Costing Income Statement References 0 0 0