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Ida Sidha Karya Company is a family-owned company located 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 $950. Selected data for the company's operations last year follow: 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 Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Required 1 Required 2 $ $ $ The absorption costing Income statement prepared by the company's accountant for last year appears below: Sales Variable expenses: Variable cost of goods sold Variable selling and administrative expense Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expense $ 223,250 180,950 42,300 26,700 $ 15,600 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. Net operating income Complete this question by entering your answers in the tabs below. 0 $ 81,000 $ 22,000 270 235 35 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement 110 330 $ 8,100 30 20 81,000 22,000