Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold $910. Selected data for the company's operations last year follow: 300 265 35 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 $ $ $ $ 115 325 45 20 $ 72,000 $ 34,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 241,150 192,125 49,025 39,300 $ 9,725 Required 1 Required 2 Prepare an income statement for last year using variable costing. 69 145,500 Ida Company Variable Costing Income Statement Units in beginning inventory Variable expenses: Variable cost of goods sold Variable selling and administrative expense Variable selling and administrative expense Variable cost of goods sold Gross margin Fixed expenses Fixed selling and administrative expense Fixed manufacturing overhead 0 145.500 0 Net operating income $ 145 500 EAN Required 1 Required 2 Under absorption costing, how much fixed manufacturing overhead cost is included in th last year? Fixed manufacturing overhead cost included in inventory GA 8.400 Damurod