Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 110 $ 320 $ 30 $ 10 $ 69,000 $ 27,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales $ 192,000 152,000 Cost of goods sold Gross margin Selling and administrative expense 40,000 29,000 $ 11,000 Net operating income 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. 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 manufacturing overhead cost included in inventory $ 760