The gamelans are sold for $990. Below is the selected data for the company's operations for last year.

Help Units in beginning inventory S Units produced Units sold 200 Units in ending inventory 180 Variable costs per unit: Direct materials 120 Direct labor 340 Variable manufacturing overhead 40 Variable selling and administrative Fixed costs: Ook Fixed manufacturing overhead $ 56,090 Fixed selling and administrative 24, 090 int ences The absorption costing income statement prepared by the company's accountant for last year appears below: Sales $ 178, 200 Cost of goods sold 140, 400 Gross margin 37, 800 Selling and administrative expense 29, 400 Net operating income 8,400 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. Next