The document provides an absorption costing income statement for a company from last year with sales of $247,500, cost of goods sold of $199,375, gross margin of $48,125, and net operating income of $13,500. It asks two questions: 1) How much fixed manufacturing overhead cost is included in the company's inventory under absorption costing? 2) To prepare an income statement for last year using variable costing.

1. The absorption costing incom statement prepared by the company's accountant for last year
appears below: $ 247,500 199,375 48,125 34,625 $ 13,500 Sales Cost of goods sold Gross
margin Selling and administrative expense Net operating income 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? Fixed manufacturing overhead cost included in inventory <
Required 1 Required 2 > The absorption costing incomstatement prepared by the company's
accountant for last year appears below. Required: 1. Under absotption costing. how much fixed
manufacturing overhead cost is included in the company's inventory at the end of las year? 2.
Prepare an income statement for last year using variable costing. Complete this question by
entering your answers in the tabs below. Under absorption costing, how much fixed
manufacturing overhead cost is included in the company's inventory at the end of last year?
Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a
xylophone. The gamelans are sold for $890. Selected data for the company's operations last year
follow. Required: 1. Assume that the company u: sabsorption costing. Compute the unit product
cost for one gamelan (Round your intermediate calculations and final answe the nearest whole
dollar amount.) 2. Assume that the company as variable costing Compute the unit product cost
for one gamelan