Help Save & E da company produces a nanacrartea musical instrument canea a gamean that is similar to a xylophone, ine gameians are sol TOT $990. Selected data for the company's operations last year follow: Chec Units in beginning inventory Units produced Units sold 200 Units in ending inventory 180 Variable costs per unit: 20 Direct materials $120 Direct Labor $ 340 Variable manufacturing overhead $ 40 Variable selling and administrative $ 30 Vixed costs Tixed manufacturing overhead 5 56,000 Fixed selling and administrative $ 24,000 The absorption costing income statement prepared by the company's accountant for last year appears below. Sales $ 178,200 Cost of goods sold 140,400 Gross margin 37.000 Selling and administrative expense 29,400 Net operating income $ 8,400 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 fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Fixed manufacturing overhead collided in inventory mcyuicu. 1. Under absorption costing, how much fixed manufacturing overhead cost is included 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 Prepare an income statement for last year using variable costing. Ida Company Variable Costing Income Statement 0 s 0 0 $ 0 orption Costing Unit Product Costs [LO7-1] Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sol $891. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 24,000 Units sold 22,000 Units in ending inventory 2,000 Variable costs per unit: Direct materials $ 150 Direct labor $ 510 Variable manufacturing overhead $ 63 Variable selling and administrative $ 23 Fixed costs: Fixed manufacturing overhead $ 680,000 Fixed selling and administrative $530,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. fos 1. Absorption costing unit product cost 2. Variable costing unit product cost