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 companys operations last year follow:

Units in beginning inventory		0
Units produced		300
Units sold		265
Units in ending inventory		35
Variable costs per unit:
Direct materials	$	115
Direct labor	$	325
Variable manufacturing overhead	$	45
Variable selling and administrative	$	20
Fixed costs:
Fixed manufacturing overhead	$	72,000
Fixed selling and administrative	$	34,000

The absorption costing income statement prepared by the companys accountant for last year appears below:

Sales	$	241,150
Cost of goods sold		192,125
Gross margin		49,025
Selling and administrative expense		39,300
Net operating income	$	9,725

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.

the attached picture is what I have so far- please use that format. I already asked this question but the names were not right with the numbers

Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement Sales $ 241,150 Variable expenses: Variable cost of goods sold Variable selling and administrative expense 241,150 Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expense 72,000 34,000 106,000 135,150 Net operating income $