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The only things I haven't been able to answer are question #1, and then the variable cost of goods sold. Please show step-by-step and thank
The only things I haven't been able to answer are question #1, and then the variable cost of goods sold. Please show step-by-step and thank you!
Ida Sidha Karya Company is a family-owned company located in the village of Gianyar 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 $960 Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: 230 200 30 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $110 320 30 10 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 69,000 27,000 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 $192,000 152,000 40,000 $11,000 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 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 included in the company's inventory at the end of last year? Prepare an income statement for last year using variable costing Ida Sidha Karya Company Variable Costing Income Statement $192,000 ariable expenses Variable cost of goods sold Variable selling and administrative expense 2,000 2,000 Contribution margin 190,000 xed expenses Fixed manufacturing overhead Fixed selling and administrative expense 69,000 27,000 96,000 $94,000 et operating incomeStep by Step Solution
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