2 Check my work 12.5 points eBook 10 10 Print References Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $970. 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 costsi Fixed manufacturing overhead Fixed selling and administrative 200 180 20 $130 $300 $30 $ 15 $ 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 Cross margin Selling and administrative expense $174,600 135,500 35,100 27,700 $7,400 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 Ida Company Variable Costing Income Statement $ 174,600 Sales Variable expenses Vanable cost of goods sold Variable selling and administrative expense Fixed selling and administrative expense Fixed manufacturing overhead Net operating income $