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14.28 points ated in the vilage of Gianyar on the isiand of Bali 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 5970 Selected data for the companys operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit. 200 180 20 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative S130 S 300 $ 1 1 30 15 Fixed costs Fixed selling and adrministrative S63,000 S 25,000 The absorption costing income statement prepared by the companys accountant for last year appears below Sales Cost of goods sold 174.600 139 500 Gross margin Selling and administrative expense 35.100 27.700 $ 7.400 Net operating income Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventomy to the next period èrhead in ending Total f S315 ma ry 2 Prepare an iricome statement for the year using variable costing Ida Sidha Karya Company Variable Costing Income StatementHel

Hello, Can someone help me with this problem?

thank you

14.28 points ated in the vilage of Gianyar on the isiand of Bali 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 5970 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. 200 180 20 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative S130 S 300 $ 1 1 30 15 Fixed costs Fixed selling and adrministrative S63,000 S 25,000 The absorption costing income statement prepared by the company’s accountant for last year appears below Sales Cost of goods sold 174.600 139 500 Gross margin Selling and administrative expense 35.100 27.700 $ 7.400 Net operating income Required: 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventomy to the next period èrhead in ending Total f S315 ma ry 2 Prepare an iricome statement for the year using variable costing Ida Sidha Karya Company Variable Costing Income Statement

Expert Answer

 

1
Total fixed manufacturing overhead in ending inventory = 63000/200*20= 6300
2
Variable costing Income statement
Sales 174600
Variable expenses:
Variable cost of goods sold 82800
Variable selling and administrative expenses 2700
Total Variable expenses 85500
Contribution margin 89100
Fixed expenses:
Fixed manufacturing overhead 63000
Fixed selling and administrative expenses 25000
Total fixed expenses 88000
Net operating income 1100
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