ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $980. Selected data for the company's operations last year follow Units in beginning Loventory Usite prodoned Units sold Units in ending inventory Variable costs per unit Direct materials Direct labor Variable afacturing overhead Variable selling and administrative TLAN ta 0 240 225 15 $140 360 35 8.30 44,000 28,000 The absorption costing income statement prepared t the company's accountant for last year appears below: 330,500 Cost of goods so14 Grows margin 183-350 30,250 32.500 Fixed manufacturing overhead Fixed selling and administrative # ##5&# 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