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Check my work Ida Company produces a handcrafted musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $990. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 240 Units sold 225 Units in ending inventory 15 Variable costs per units Direct materials $ 120 Direct labor $ 330 Variable manufacturing overhead $ 50 Variable selling and administrative $ 25 Fixed costs: Fixed manufacturing overhead $ 72,000 Fixed selling and administrative $ 27,000 The absorption costing Income statement prepared by the company's accountant for last year appears below: ok int ences Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 222,750 180,000 42,750 32,625 $ 10,125 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