Ida Sidha Karya Company is a family-owned company located in the village of Glanyar on the island of Ball in Indonesia. The company produces a handcrafted Balinese musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $960 Selected data for the company's operations last year follow B 230 200 30 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 $ $ $ $ 110 320 3e 10 $ 69,000 $ 27,000 The absorption cosung Income statement prepared by the company's accountant for last year appears below. Sales Cost of goods sold Gross margin Selling and administrative expense Het operating income $ 192,000 152,000 40,000 29,000 $ 11,000 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of tast 2. Prepare an income statement for last year using variable costing What is the amount of the difference in net operating income between the two costing methods? year? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Fixed manufacturing ovochead cost included in inventory CUSL UT UUUS SUU Gross margin Selling and administrative expense Net operating income A54, 40,000 29,000 11,000 5 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 What is the amount of the difference in net operating Income between the two costing methods? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement 200 30 HAL 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 $ $ $ 5 110 320 30 10 $ 69,000 $ 27,000 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 $ 192,000 152,000 40,000 29,000 5 11,000 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. What is the amount of the difference in net operating income between the two costing methods? Complete this question by entering your answers in the tabs below. Reg1 Reg 2A Reg 28 What is the amount of the difference in net operating income between the two costing methods? Amount of the difference in net operating income
