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Ida Company produces a handcrafted musical instrument called a gameian that is similar to a...

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Accounting

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Ida Company produces a handcrafted musical instrument called a gameian that is similar to a xylophone. The gamelans are sold for $990. Selected data for the company's operations last year follow: The absorption costing income statement prepared by the company's accountant for last year appears below: Required: 1. Under absorption costing, how much fixed monufocturing overbead 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. Prepare an income statement for last year using variable costing

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