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Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $950. Selected data for the company's operations last year follow: 250 230 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 125 BBS 55 BO $ $ 75,000 $ 15,000 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 $ 218,500 187,450 31,050 21,900 $ 9,150 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Prev 2 of 10 Next 4 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Under absorption costing, how much fixed manufacturing overhead cost is include last year? Fixed manufacturing overhead cost included in inventory $ 300 X RE Required 2 uestion by entering your answers in the tabs perow. Required 1 Required 2 Prepare an income statement for last year using variable costing. o Ida Company Variable Costing Income Statement 0 0 0