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 $990. 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: 240 225 15 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $120 $330 50 25 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $72,000 $ 27,000 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 administrative expense Net operating income $ 222,750 180,000 42,750 32,625 s 10,125 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 1Required 2 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 1Required 2 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold Variable selling and administrative expense Contribution margin Fixed expenses 0 Fixed manufacturing overhead Fixed selling and administrative expense Net operating income 0