2 5 points eBook Hint 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 Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 280 255 25 $105 $315 $ 35 $.40 $ 63,000 $ 32,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Print Sales $224,400 Cost of goods sold 173,400 Gross margin 51,000 Selling and administrative expense 42,200 References $ 8,800 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 Prepare an income statement for last year using variable costing. 2 5 points eBook Hist HEL UPLAY AL Required: 33333 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 21 Prepare an income statement for last year using variable costing. Ida Company Variable Costing Income Statement. Print Sales References Mc Graw Hill 0 0 $ 0 5 3 points ellook High Country, Incorporated, produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: 46,000 41,000 $ 80 $3 $ 563,000 Direct materials cost per unit Direct labor cost per unit Print Fixed manufacturing overhead cost (per month) References Variable manufacturing overhead cost per unit $16 57 $ 1 $690,000 Management is anxious to assess the profitability of the new camp cot during the month of May Required: 1. Assume that the company uses absorption costing. a. Calculate the unit product cost. b. Prepare an income statement for May 2. Assume that the company uses variable costing a. Calculate the unit product cost b. Prepare a contribution format income statement for May Complete this question by entering your answers in the table below. 5 3 points eBook Management is anxious to assess the profitability of the new camp cot during the month of May. Required: 1. Assume that the company uses absorption costing. a. Calculate the unit product cost. b. Prepare an income statement for May. 2. Assume that the company uses variable costing. a. Calculate the unit product cost. b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Print Req LA Req 18 Req 2A Req 28 References Prepare an income statement for May. Assume that the company uses absorption costing. High Country, Incorporated Absorption Costing Income Statement 0 S 0 5 3 points b. Prepare an income statement for May. 2. Assume that the company uses variable costing. a. Calculate the unit product cost. b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Req 1A Req 18 Req 2A Req 28 eBook Print Prepare a contribution format income statement for May. Assume that the company uses variable costing. High Country, Incorporated Variable Costing Income Statement References 0 0 0 0 Req 2A 2>