Chapter 6 Practice Exercises and Problems (3 pts. Extra-Credit) Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Ball in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $850. Selected data for the company's operations last year follow: 03 points se i Units in beginning inventory Units produced Units sold units in ending Inventory Variable costs per uniti Direct materials Direct labor Variable manufacturing overhead Variable selling and dinistrative Fixed costs Fixed manufacturing overhead Fixed selling and administrative The absorption costing income statement prepared by the company's accountant for last year appears below Cost of goods sold Gross margin Selling and administrative expense Net operating income 33.750 24.ee 59.230 Required: 1. Under absorption costing, how much fed 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. The absorption costing income statement prepared by the company's accountant for last year appears below! eBook Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 191,250 157,500 33,750 24,500 9,250 References Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of las 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? Faced manufacturing overhead cost included in inventory Requited 1 Required 2 > n aaministrative 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 Print Complete this question by entering your answers in the tabs below References Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement