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Ida Sidha Karya Company is a family owned company located in the village of Gianyar 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 to a Canadian importer for $910. Selected data for the company's operations last year follow. 0 310 280 30 Units in beginning inventory Units produced Unite sold Units in ending inventory Variable costs per units Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Pixed selling and administrative $ $ $ 130 350 50 40 $62,000 $26,000 An absorption costing income statement prepared by the company's accountant appears below: Sales Cost of goods sold $254,800 204,400 50,400 37,200 Gross margin Selling and administrative expense Net operating income $ 13,200 An absorption costing income statement prepared by the company's accountant appears below: $254,800 204,400 Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income 50,400 37,200 $ 13,200 Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in ending Inventory 2. Prepare an income statement for the year using variable costing. IDA SIDHA KARYA COMPANY Variable Costing Income Statement Variable expenses: Fixed expenses