Ida Sidha Karya Company is a family-owned company located in the village of Gianyar 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 to a Canadian importer for $990. Selected data for the company's operations last year follow 240 225 15 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ $ $ 120 33 se 25 $72,000 527,00 An absorption costing income statement prepared by the company's accountant appears below: $222,75e 180, cee Sales Cost of goods soid Gross margin Selling and administrative expense 42,750 22,625 Net operating income $10,125 Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in Inventory to the next period. Totalfowed manufacturing overed in ending inventory 2. Prepare an income statement for the year using variable costing. IDA SIDHA KARYA COMPANY Variable Costing Income Statement Variable expenses 0 0 Fored expenses 0 19 0