0 280 30 $ 350 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, Units in beginning inventory Units produced 310 Units sold Unita in ending inventory Variable costs per uniti Direct materials $ 130 Direct labor Variable manufacturing overhead $ 50 Variable selling and administrative $40 Tixed costs: Fixed manufacturing overhead $ 62,000 Fixed selling and administrative $ 26,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales 5.254,800 Cost of goods sold 204,400 Gross margin 50,400 Selling and administrative expendo 37,200 Net operating Income 513,200 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, 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 Required 1 Required 2 > Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Company Variable Costing Income Statement 0 0 0 0