Ida Company produces a handcrafted 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: Units in beginning inventory 3 Units produced 253 Units sold 225 Units in ending inventory 25 Variable costs per unit: Direct materials $ 133 Direct labor $ 323 Variable manufacturing overhead $ 43 Variable selling and administrative $ 23 Fixed costs: Fixed manufacturing overhead $ 63,333 Fixed selling and administrative $ 23,333 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales $ 191,253 Cost of goods sold 157,533 Gross margin 33,753 Selling and administrative expense 24,533 Net operating income $ 9,253 Requhed: 1. Under absorption costing, how much xed 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