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 $929. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 0 22,000 19,000 3,000 Units sold Units in ending inventory Variable costs per unit: Direct materials 260 Direct labor 450 facturing overhead Variahle end administrative elling and 24 Fixed costs: $700,000 $850,000 Fixed manufacturing overhead Fixed selling and administrative Required: Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan 1. Absorption costing unit product cost Variable costing unit product cost 2 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 $840. Selected data for the company's operations last year follow Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: 0 300 275 25 Direct materials Direct labor Variable manufacturing overhead 100 S 310 30 Variable selling and administrative 35 ri Fixed Fixed selling and administrative facturing overhead $66,000 $ 31,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales 231,000 Cost of goods sold Gross margin Selling and administrative expense 181,500 49,500 40,625 8,875 Net operating income 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