I need help with this one please. Thank you!!! mework Problems iSavedIda Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for$990. Selected data for the company's operations last year follow:Units in beginning inventoryUnits produced240Units sold225Units in ending inventoryVariable costs per unit:15$ 120$ 330$ 50$ 25Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrativeFixed costs:Fixed manufacturing overheadFixed selling and administrative$ 72,000$ 27,000The absorption costing income statement prepared by the company's accountant for last year appears below:$ 222,750180,000SalesCost of goods soldGross marginSelling and administrative expense42,75032,625Net operating income$ 10,125Required:1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of lastyear?2. Prepare an income statement for last year using variable costing.Complete this question by entering your answers in the tabs below.Required 1Required 2Prepare an income statement for last year using variable costing.Ida CompanyVariable Costing Income StatementSales$222,750Variable expenses:Variable cost of goods sold$7,500Variable selling and administrative expense112,500$5,625125,62597,125< Prev2 of 9Next >O O mework Problems iSavedCUSCS.Fixed manufacturing overheadFixed selling and administrative$ 72,000$ 27,000The absorption costing income statement prepared by the company's accountant for last year appears below:$ 222,750180,000SalesCost of goods soldGross marginSelling and administrative expense42,75032,625$ 10,125Net operating incomeRequired:1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of lastyear?2. Prepare an income statement for last year using variable costing.Complete this question by entering your answers in the tabs below.Required 1Required 2Prepare an income statement for last year using variable costing.Ida CompanyVariable Costing Income StatementSales$222,750Variable expenses:Variable cost of goods sold$7,500Variable selling and administrative expense112,500$5,625125,62597,125$97,125< Required 1Required 2< Prev2 of 9Next >

(1) Fixed manufacturing overhead cost included in inventory = $4500 Calculation: Fixed manufacturing…

Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The ga 90. Selected data for the company's operations last year follow: nits in beginning inventory nits produced nits sold nits in ending inventory ariable costs per unit: 240 225 15 $ 120 $ 330 $ 50 $ 25 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative ixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 72,000 $ 27,000 e absorption costing income statement prepared by the company's accountant for last year appears below: $ 222,750 180,000 42,750 32,625 $ 10,125 ales ost of goods sold ross margin elling and administrative expense et operating income quired: