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 $910. Selected data for the company's operations last year follow: 0 300 270 30 Units in beginning inventory Units produced Units sold Unite in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed conten Fixed manufacturing overhead Fixed selling and administrative $ $ $ 140 350 35 15 $ 69,000 $ 26,000 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 Niet operating income $ 245,700 203,850 41.850 30.050 $ 11,800 2. Prepare an income statement for last year using variable costing. What is the an between the two costing methods? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B 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 expenses 245,700 0 245,700 Contribution margin 'Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses Net operating income 0 245,700 $ 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. What is the amount of the difference in net operating income between the two costing methods? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 What is the amount of the difference in net operating income between the two costing methods? Amount of the difference in nat Operating income 450