Ida Sidha Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $880. Selected data for the company's operations last year follow:

Ch. 6: Homework Shved 7 Exercise 6-2 Variable Costing Income Statement; Explanation of Difference in Net Operating Income [LO6-2] 2 points Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $880. Selected data for the company's operations last year follow: Skipped eBook 240 4e Hint 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 $ $ $ 115 335 35 25 $ 63,000 $ 23,000 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 $ 211,200 170,400 42,800 29.000 $ 11,800 Required: 1. Under absorption costing, how much foed 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 The absorption costing income statement prepared by the company's accoun Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 211,209 170,400 40,800 29,000 11,800 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Fored manufacturing overhead cost included in inventory Required 2 > Net operating income 2 points Skipped Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of las year? 2. Prepare an income statement for last year using variable costing. eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Prepare an income statement for last year using variable costing. Print Ida Sidha Karya Company Variable Costing Income Statement References 0