Logistics Company had the following items listed in its trial balance at 12/31/2021: Balance in checking account, Bank of the East $ 342,000 Treasury bills, purchased on 11/1/2021, mature on 1/30/2022 25,000 Loan payable, long-term, Bank of the East 360,000 Included in the checking account balance is $40,000 of restricted cash that Bank of the East requires as a compensating balance for the $360,000 note. What amount will Logistics include in its year-end balance sheet as cash and cash equivalents? Multiple Choice a.$327,000. b.$302,000. c.$367,000. d.$342,000.

Exercise 6-2 variable costing income statement; explanation of difference in net operating income [lo6-2] ida sidha karya company is a family-owned company located 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 $970. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 200 units sold 180 units in ending inventory 20 variable costs per unit: direct materials $ 130 direct labor $ 300 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 63,000 fixed selling and administrative $ 25,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 174,600 cost of goods sold 139,500 gross margin 35,100 selling and administrative expense 27,700 net operating income $ 7,400 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.