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 $880. Selected data for the company's operations last year follow Units produced Units sold Units in ending inventory Variable costs per unit: 280 255 25 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative 105 $ 315 35 $40 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 63,000 $ 32,000 The absorption costing income statement prepared by the company's accountant for last year appears below 224,400 173,400 51,000 Sales Cost of goods sold Gross margin Selling and administrative expense 42 200 Net operating income $8,800 Required 1. Under absorption costing, how much fixed manufecturing overhead cost is included in the company's inventory at the end of last 2. Prepare an income statement for last year using variable costing