th6 Homework Help Save & Exit Submit Check my work Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $900. Selected data for the company's operations last year follow. points 300 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit. Direct materials 125 Variable manefacturing overhead Variable selling and administrative Fixed costs Fixed manufacturing overhead Fixed selling and administrative $ 63,000 $ 25.000 The 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 $ 247.500 199375 40.125 34.625 $ 13,500 Required: 1 Under absorption costing, how much foxed 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. Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement les Variable expenses Variable cost of goods sold $ 1993 Variable selling and administrative expense Contribution margin fixed manufacturing overhead Fixed selling and administrative expense Net operating income