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31.00 Ida Sidha Karya Company is a family-owned company located on the island of Bal in Indonesia. The company produces a handcrafted Balinese muskal instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $840 Selected data for the company s operations last year follow Units in beginning Inventory Unles produced Units sold 275 Units in dire inventory 25 Valable costs per uniti orect water als Direct labor Variable manufacturing overhed Variable selling and listrative Fixed costs Pred manufacturing overhead $6,000 bed selling and Winistrative The absorption costing income statement prepared by the company's accountant for last year ears below. $ 21 cost of goods sold dass wir Selling and administrative Net operating income 49,00 401 $ 0,875 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last 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 year? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Req 28 Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year For man tacturing overhead cast included in inventory Reg 2A > 300 275 25 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 $ $ $ $ 100 310 30 35 $ 66,000 $ 31,000 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 $ 231,600 181.500 49,500 40,625 $ 8,875 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of tast 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 Reg 2A Reg 2B Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement 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 $840. Selected data for the company's operations last year follow: 300 275 25 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 $ 100 310 30 $ $ 66,000 $ 31,000 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 Incore $ 231,000 161,500 49,500 40.625 $3,675 Required: 1. Under absorption costing, now 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. Red 1 Reg 2A Reg 2B What is the amount of the difference in net operating income between the two costing methods? Annount of the difference in net operating income