2. 1000 value: 10.00 points Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali n Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $850. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit 250 225 25 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative 100 320 $40 $ 20 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 60,000 20,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of goods sold 191,250 157,500 Gross margin Selling and administrative expense 33,750 24,500 Net operating income $ 9,250