Ida Sidha Karya Company is a family-owned company located in the village of Gianyar 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 to a Canadian importer for $990. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory 0 240 225 15 Variable costs per unit: Direct materials $ 120 Direct labour $ 330 Variable manufacturing overhead $ 50 Variable selling and administrative $ 25 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $72,000 $27,000 An absorption costing income statement prepared by the company's accountant appears below: Sales Cost of goods sold Gross margin $222,750 180,000 42,750 Selling and administrative expenses 32,625 $ 10,125 Operating income Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in ending inventory Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in ending inventory 2. Prepare an income statement for the year using the variable costing method. Variable expenses: IDA SIDHA KARYA COMPANY Variable Costing Income Statement Fixed expenses 0 0 0 $ 0