Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $990. Selected data for the company's operations last year follow, 240 225 15 Unita in beginning inventory Onits produced Units sold Onits in ending inventory Variable costa per unit Dirt materials Direct labor Variable facturing overhead Variabelling and administrative Pixed costas Fixed manotacturing overhead Fixed selling and administrative 3 0 120 330 150 25 2000 $ 27,000 The absorption costing income statement prepared by the company's accountant for last year appears below Sales coat of goods sold GEO argin Selling and administrative expense Wet operating income 5.222.750 100.000 12,750 5 10,125 Required: 1 Under absorption costing, how much fixed manufacturing overhead cost is tncluded in the company's inventory at the end of last year? 2. Prepare an income statement for last year using variable costing