3. Refer to the Income Statements tab within your template. Using the SumIF function to quantify the cost of goods sold, the total selling expense, and the total administrative expense:

a. Prepare a traditional format income statement. (Hint: The cost of goods sold should include all direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead costs.)

b. Based on the traditional format income statement, what is the gross margin?

c. Based on the traditional format income statement, what is the total selling and administrative expense?

Required information [The following information applies to the questions displayed below.] Crispin Company's sales from last year were $8 million. The company maintains no beginning or ending inventories. It has assembled all of its costs from last year and would like your assistance in sorting these costs into various categories, depicting them graphically, and preparing traditional and contribution format income statements. Click here to download the Excel template, which you will use to answer the questions that follow. Click here for a brief tutorial on PivotTables in Excel. Click here for a brief tutorial on PivotCharts in Excel. Click here for a brief tutorial on SUMIF in Excel. 3. Refer to the "Income Statements" tab within your template. Using the SumIF function to quantify the cost of goods sold, the total selling expense, and the total administrative expense: a. Prepare a traditional format income statement. (Hint: The cost of goods sold should include all direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead costs.) b. Based on the traditional format income statement, what is the gross margin? c. Based on the traditional format income statement, what is the total selling and administrative expense? Complete this question by entering your answers in the tabs below. Req Reg 3B Reg 3C Based on the traditional format income statement, what is the total selling and administrative expense? The total selling and administrative expense is