35 Ida Company produces a handcrafted musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $860. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 320 Units sold 285 Unita in onding inventory Variable costs per unit: Direct materials $ 135 Direct labor Variable manufacturing overhead $ 30 Variable selling and administrative $15 Fixed costs: Fixed manufacturing overhead $ 64,000 Fixed selling and administrative 27,000 The absorption costing Income statement prepared by the company's accountant for last year appears below. $ 355 Sales Coat of goods sold Gross margin Selling and administrative expense Het operating income $ 245, 100 205,200 39.900 31,275 S 8.625 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 Under absorption costing, how much liked manufacturing overhead cost is included in the company's Inventory at the end of last year? 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 > 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 0 0 0 0