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Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called

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Ida Sidha Karya Company is a family-owned company located 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 Veriable costs per unit: 300 275 25 Direct materials 100 310 3e Direct labor Variable manufacturing overhead Variable selling and adsinistrative Fixed costs: Fixed manufacturing overhead Fixed selling and adeinistrative $ 35 $ 66,000 $ 31,000 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 adeinistrative expense Net operating income 231,000 181,500 49,500 40,625 8,875 s 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 2 Required 1 Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Fixed manufacturing overhead cost included in inventory Required 2 KReqaired 11 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 Hxed selling ana administrative expense Sales Units in beginning inventory Units in ending inventory Units produced Units sold Required 2

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