Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $970 Selected data for the company's operations last year follow. Units te beginning inventory Units produced 200 Units told 100 Units in ending Inventory 20 Variable costs per unit: Direct materials $ 130 Direct labor $100 Variable manufacturing overhead 5 30 Variable selling and administrative 5.15 Fixed costs Fixed manufacturing overhead $ 63,000 Fixed selling and adeinistrative $ 25,000 The absorption costing income statement prepared by the company's accountant for last year appears below. Sales $ 174,600 Cost of goods sold 139,500 Gross marcin 35,100 Selling and administrative expense 27,700 Het operating income $ 7,400 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