2 666 pos Phi Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $900 Selected data for the company's operations last year follow units in beginning inventory i Units produced Units sold i Units In ending inventory Variable costs per uniti Direct materials Direct labor Variable manufacturing overhead variable selling and administrative Fixed costs Fixed manufacturing overhead Fixed selling and administrative 100 275 25 5.125 $345 3.45 $35 $63,000 $25,000 The absorption costing income statement prepared by the company's accountant for last year appears below Sales Cost of goods sold $147,500 40,125 14,425 Gross margin Selling and administrative expense Net operating Income Required: 1. Under absorption costing, how much foxed 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 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 2 > Help 2 666 DORO Sales Cost of goods sold Gross margin Selling and administrative expense Net operating Income Required: $247,500 199,375 40,125 34,425 $13,500 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 2 Prepare an income statement for last year using variable costing Ma Company Variable Costing Income Statement Help