Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for Prepare an income statement for last year using variable costing.

$\backslash$table$[[$Ida Company$],[$Variable Costing Income Statement$],[$Sales$,(,,$$$,245,100],[$Variable expenses:,grad,,,$],[$Variable cost of goods sold,$$,205,200\backslash$times $,,],[$Variable selling and administrative expense,$(,,,],[$Fixed selling and administrative expense,$\backslash$times $$,27,000\backslash$times $,,],[$Fixed manufacturing overhead,$\backslash$times $$,64,000\backslash$times $,,296,200],[,,,(51,100)],[,,,],[,,,],[,,,],[,,,0],[$Net operating income,V$,,$$$,(51,100)]]$

$$860.$ Selected data for the company's operations last year follow:

The absorption costing income statement prepared by the company's accountant for last year appears below:

Required:

Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last

year?

Prepare an income statement for last year using variable costing.