Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for

$$910.$ Selected data for the company's operations last year follow:

Units in beginning inventory

Units produced

Units sold

Units in ending inventory

Variable costs per unit:

Direct materials

Direct labor

Variable manufacturing overhead

Variable selling and administrative

Fixed costs:

Fixed manufacturing overhead

Fixed selling and administrative

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.