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 $980. Selected data for the companys operations last year follow: Units in beginning inventory 0 Units produced 240 Units sold 225 Units in ending inventory 15 Variable costs per unit: Direct materials $ 140 Direct labor $ 360 Variable manufacturing overhead $ 35 Variable selling and administrative $ 20 Fixed costs: Fixed manufacturing overhead $ 66,000 Fixed selling and administrative $ 28,000 The absorption costing income statement prepared by the companys accountant for last year appears below: Sales $ 220,500 Cost of goods sold 182,250 Gross margin 38,250 Selling and administrative expense 32,500 Net operating income $ 5,750 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.

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement S Required 1 Required 2 Ida Sidha Karya Company Variable Costing Income Statement Show All Items Variable cost of goods sold Fixed manufacturing overhead Fixed selling and administrative expense Sales Ida Sidha Karya Company Variable Costing Income Statement Variable selling and administrative expense Units in beginning inventory Units in ending inventory Units produced Units sold Ida Sidha Karya Company Variable Costing Income Statement Variable expenses: Fixed expenses: Ida Sidha Karya Company Variable Costing Income Statement Variable cost of goods sold Fixed manufacturing overhead Fixed selling and administrative expense Sales Ida Sidha Karya Company Variable Costing Income Statement Contribution margin Gross margin Ida Sidha Karya Company Variable Costing Income Statement Variable expenses: Fixed expenses: Ida Sidha Karya Company Variable Costing Income Statement $ 0 Required 1 Required 2 Net operating income Net operating loss