Ida sidha karya company is a family-owned company located

Reference no: EM13597304

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 sounding bars are cast from brass and hand-filed to attain just the right sound. The bars are then mounted on an intricately hand-carved wooden base. The gamelans are sold for 850 rupiahs.Selected data for the company's operations last year follow:

Units in beginning inventory 0
Units produced 250
Units sold 225
Units in ending inventory 25
Variable costs per unit:
Direct materials Rp100
Direct labor Rp320
Variable manufacturing overhead Rp40
Variable selling and administrative Rp20
Fixed costs:
Fixed manufacturing overhead Rp60,000

Fixed selling and administrative Rp20,000

The absorption costing income statement prepared by the company's accountant for last year appears below:

Sales Rp191,250
Cost of goods sold 157,500
Gross margin 33,750
Selling and administrative expenses 24,500
Net operating income Rp9,250

Requirement 1: Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period.

Requirement 2: Prepare an income statement for the year using the variable costing method.

Reference no: EM13597304

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