Exercise 6-2 (Algo) Variable Costing Income Statement; Explanation of Difference in Net Operating Income [LOG-2] Ids Compacy peoduces a handcrafed musical instruinent called a gamelan that is similar to a xylophone. The gamelans are sold for $950 - Selected data for the companys operations last year folow. The absorption costeno income statement prepared by the company's accountant for last year appears below Required: 1. Under absorption costing. how much tued munufocturng overhedd cost is incluevd in the compary/s inwentory at the end of lons year? 2. Prepye an inconse statement for last year using variable costing Conslete this question by entering your answers in the tabs below. Prepare an incorne statement for last yoar using variable costing