Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company 20 produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $920. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 275 01:19:06 Units sold 260 Units in ending inventory 15 Variable costs per unit: Direct materials 110 Direct labour 320 40 Book Variable manufacturing overhead Variable selling and administrative 15 Fixed costs: Fixed manufacturing overhead 060 ' LL $ Fixed selling and administrative $ 33 , 090 An absorption costing income statement prepared by the company's accountant appears below: Sales $239, 200 Cost of goods sold 195, 600 Gross margin 44, 200 Selling and administrative expenses 36, 908 Operating income $ 7, 300 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 inventorySaved Post-Class Quiz - Chapter 8 i An absorption costing income statement prepared by the company's accountant appears below: 20 Sales $239, 200 Cost of goods sold 195 , 000 Gross margin 44, 200 Selling and administrative expenses 36, 900 01-19:01 Operating income $ 7,300 Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. eBook Total fixed manufacturing overhead in ending inventory 2. Prepare an income statement for the year using the variable costing method. IDA SIDHA KARYA COMPANY Variable Costing Income Statement Variable expenses Fixed expenses: $