Od Ida Scra Kary Company is a family owned company contendo el des The.com Broduces a range Bine musical instrument categament mit a yophone. The games are sold for $916. Selected for Cory's operations ast year follow hits te we Vares TO 10 30 130 . niet Valerie Vasile Power 1. 8.00 The articoli incercard by the content for year opens bo IN rata Required Under option costing how much we manufacturing overhead continued is the company's wertory of the end et year? 2. Prepare an income statement to seeing a costa What the amount of the difference in terting cam between the two casting methods Complete the question by entering your answers in the tabel Under stortion communem inued in the company at the end of Rag 2A Exercise 7-2 Variable Costing Income Statement; Explanation of Difference in Net Operating Income [LO7-2] 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 $910. Selected data for the company's operations last year follow: 0 310 280 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 Ti conti Tixed manufacturing overhead Fixed selling and administrative 3 3 $ 130 350 50 40 562,000 The absorption costing income statement prepared by the company's accountant for last year appears below. sales Coat of goods sold Grous margin telling and administrative expense Net operating Inc $ 254,800 204.400 50,400 37,200 13.200 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 Res 2A Reg 28 Under absorption costing, how much foxed manufacturing overhead cost is included in the company's inventory at the end of last year