Polar Industries manufactures a commerical size refrigerator for restaurants and commercial kitchens. The commercial refrigerators are sold for $950. Selected data for the company's operations last year follow: 0 250 230 20 20 Units in beginning inventory Units produced Units sola Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costo Pixed manufacturing overhead Tixed selling and administrative $ $ $ $ 125 335 55 30 $ 75,000 5 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 Het operating income $ 218,500 187,450 31,050 21.900 $ 9, 150 ces 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. 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 Req 2A Reg 2B Prepare an income statement for last year using variable costing Polar Industries Variable Costing Income Statement Sales Nariable expenses Variable cost of goods sold S 218,500 0 218,500 0 218,500 $