Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $950 Selected data for the company's operations last year follow 250 235 15 135 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 345 $ $ 5 30 20 $65.000 $ 25,000 The absorption costing income statement prepared by the company's accountant for last year appears below. Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 223,250 180,950 42,300 29.700 12,600 Required: 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. What is the amount of the difference in net operating income between the two costing methods