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 for $880. Selected data for the company's operations last year follow: AA Units in beginning inventory 0 Units produced 280 Units sold 255 Units in ending inventory 25 Variable costs per unit: Direct materials 105 Direct labor $ 315 Variable manufacturing $ 35 overhead Variable selling and $ 40 administrative Fixed costs: Fixed manufacturing overhead $63,000 Fixed selling and administrative $32,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of goods sold $ 224,400 173,400 51000 42,200 Gross margin Selling and administrativo expense Net operating income $ 8,800 Required: 1. Determine how much of the ending Inventory consists of fixed manufacturing overhead cost deferred in Inventory to the next perlod Total Wixed manufacturing overbond wonding wertory 2. Prepare an income statement for the year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement Variable expenses: Fixed expenses