6 Compute the Variable Costing Unit Product Cost 17 8 Direct materials 39 Direct labor 50 Variable manufacturing overhead 51 Variable costing unit product cost 52 53 Construct the Variable Costing Income Statement 54 55 Sales 56 Variable expenses: 57 Variable cost of goods sold Variable selling and administrative expenses 58 59 Contribution margin 50 Fixed expenses: 51 52 53 Net operating income 54 55 56 Fixed manufacturing overhead Fixed selling and administrative expenses Year 1 $11 6 3 $20 Year 1 $ 160,000 32,000 $120,000 $70,000 Year 2 $11 6 3 $20 $ 400,000 192,000 208,000 $190,000 $ 18,000 Year 2 $160,000 32,000 $120,000 $70,000 $ 400,000 $192,000 208,000 $190,000 $ 18,000 Chapter 7: Applying Excel Data Selling price per unit Manufacturing costs: Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable per unit sold Fixed per year 5 5 Units in beginning inventory 7 Units produced during the year 8 Units sold during the year 9 23 Compute the Ending Inventory 24 25 Units in beginning inventory 26 Units produced during the year 27 Units sold during the year 28 Units in ending inventory 29 34 Variable manufacturing overhead 35 Fixed manufacturing overhead 36 Absorption costing unit product cost 40 Sales 41 Cost of goods sold 42 Gross margin 0 Enter a formula into each of the cells marked with a ? below 1 Review Problem 1: Contrasting Variable and Absorption Costing 22 30 Compute the Absorption Costing Unit Product Cost 31 32 Direct materials 33 Direct labor 43 Selling and administrative expenses 44 Net operating income 45 $11 $6 $3 $120,000 46 Compute the Variable Costing Unit Product Cost 47 48 Direct materials 49 Direct labor 50 Variable manucuring overload Chapter 7 Form $50 $4 $70,000 + Year 1 37 38 Construct the Absorption Costing Income Statement 39 10,000 8,000 Year 1 0 0 10,000 8,000 2,000 Year 1 $11 6 3 12 $32 Year 1 $ 400,000 256,000 Year 1 Year 2 $11 6 6,000 6,000 Year 2 2,000 6,000 8,000 0 Year 2 $11 6309 20 $40 304,000 144,000 96,000 102,000 102,000 $ 42,000 $ (6,000) Year 2 $400,000 Year 2 $11 6 2. Clare all the numbers in the aid died ui Vuur Worksheet so dit IOURS IKE THIS. 1 Required information 1 2 3 Chapter 6: Applying Excel Data Selling price per unit Manufacturing costs: Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead 4 5 6 7 8 9 10 Fixed manufacturing overhead per year 11 Selling and administrative expenses: Variable per unit sold 12 13 Fixed per year 14 15 16 Units in beginning inventory 17 Units produced during the year 18 Units sold during the year $ $ $ 361 126 61 30 $ $ 182,000 $ $ 100,000 Year 1 6 0 3,500 3,000 Year 2 2,600 3,000 (b) What is the net operating income (loss) in Year 2 under absorption costing? Answer is complete but not entirely correct. Net operating income $ 541,200 X (d) What is the net operating income (loss) in Year 2 under variable costing? > Answer is complete but not entirely correct. Net operating income $ 822,000 X A (b) What is the net operating income (loss) in Year 2 under absorption costing? Answer is complete but not entirely correct. Net operating income $ 494,400 X