Ida Sidha Karya Company is a family-owned company located on the Island of Ball In Indonesia. The company produces a handcrafted Balinese musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $900. Selected data for the company's operations last year follow: 0 300 275 25 Unite in beginning inventory Unata produced Units sold Units in ending inventory Variable conta per unit Direet materials Direet labor Variable manufacturing overhead Variable selling and administrative Fixed costur Tixed manufacturing overhead Fixed selling and administrative 5 S 125 345 45 35 $ 63,000 $ 25,000 The absorptioh costing income statement prepared by the company's accountant for last year appears below: Sales Cont of goods sold drons margin Selling and administrative expense Net operating Income $ 247,500 199,375 48, 125 34,625 $ 13,500 8 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