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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? 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 Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $880. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 280 Units sold 240 Units in ending inventory 40 Variable costs per unit: Direct materials $ 115 Direct labor $ 335 Variable manufacturing overhead $ 35 Variable selling and administrative $ 25 Fixed costs: Fixed manufacturing overhead $ 63,000 Fixed selling and administrative $ 23,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales $ 211, 200 Cost of goods sold 170, 400 Gross margin 40 , 800 Selling and administrative expense 29,000 Net operating income $ 11, 800 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.Piedmont Company segments its business into two regionsNorth and South. The company prepared the contribution format segmented income statement as shown: Total Company North South Sales $ 937,509 $ 759,999 $ 18?,599 Var'iable expenses 637,509 699,999 3?,509 Contribution margin 390,009 159,999 150,099 Traceable 'Fixed expenses 152,009 76,999 76,009 Segment margin 148,009 $ 74,999 $ 74:999 Common fixed expenses 64,009 Net operating income $ 84,009 Required: 1. Compute the companywide breakeven point in dollar sales. 2. Compute the breakeven point in dollar sales for the North region. 3. Compute the breakeven point in dollar sales tor the South region. (For all requirements, round your intermediate calculations to 2 decimal places. Round your final answers to the nearest dollar.) 1. Dollar sales for company to break-even 2. Dollar sales for North segment to break-even 3 Dollar sales for South segment to breakeven Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using variable costing, what is the unit product cost for both years? i Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the variable costing net operating income in Year 1 and in Year 2? (Loss amounts should be indicated with a minus sign.) Net operating income (loss) Required 1 Required 2 Required 3 Reconcile the absorption costing and the variable costing net operating income gures for each year. Variable costing net operating income (loss) Add (deduct) fixed manufacturing overhead deferred in (released from} inventory under absorption costing Absorption costing net operating income During Heaton Company's first two years of operations, it reported absorption costing net operating income as follows: Year 1 Year 2 Sales (@ $63 per unit) $ 1,134,666 $ 1,?6,666 Cost of goods sold (@ $37 per unit) 666,699 1,636,699 Gross margin 468,666 ?28,666 Selling and administrative expenses* 362,699 332,699 Net operating income $ 166,999 $ 3952999 "' $3 per unit variable; $248,000 fixed each year. The company's $37 unit product cost is computed as follows: Direct materials $ 9 Direct labor 9 Variable manufacturing overhead 1 Fixed manufacturing overhead ($414,666 + 23,666 units) 18 Absorption costing unit product cost $ 37 Production and cost data for the first two years of operations are: Year 1 Year 2 Units produced 23,666 23,666 Units sold 18,666 28,666 Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income in Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating income figures for each year