0 Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $980. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 240 Units sold 225 Units in ending inventory 15 Variable costs per unit: Direct materials $ 140 Direct labor $ 360 Variable manufacturing overhead $ 35 Variable selling and administrative $ 20 Fixed costs Fixed manufacturing overhead $ 66,000 Fixed selling and administrative $ 28,000 The absorption costing Income statement prepared by the company's accountant for last year appears below: Sales $ 220,500 Coat of goods sold 182,250 Gross margin 38,250 Selling and administrative expense 32,500 Net operating income $ 5,750 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of tast 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 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? Fued manufacturing overhead cost included in inventary Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Company Variable Costing Income Statement