Addison, Incorporated makes a single product, an indoor fireplace, and has provided data from last year of operations. The Controller has asked you to compare income statements if the company used the variable costing approach vs. the absorption costing report. Here are some tips for using Excel: - Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered "=B5" into a blank cell, the formula would output the value from cell B5. - Basic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract), (asterisk sign to multiply), and / (forward slash to divide). For example, if you entered "=B4+B5" in a blank cell, the formula would add the values from those cells and output the result. - SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered "=SUM (C4,C5,C6) " into a blank cell, the formula would output the result of adding those three separate cells. Similarly, if you entered "=SUM(C4:C6)", the formula would output the same result of adding those cells. 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. Excel McGraw Hill Excel Question - Saved v File Home Insert Draw Formulas Data Review View Help IMPORTANT: Answer grading policy A1 fx Accessibility tab summary: Financial data for Addison Incorporated is Selling price per fireplace 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 Units in beginning inventory Units produced during the year Units sold during the year Required: Use the data to answer the following. (Use cells A4 to B17 from the given information, as well as A26 to C52 to complete this question. All answers should be input and displayed as positive values.) 1. Assume the company uses variable costing: Compute the unit product cost for one fireplace BGradedWorksheet For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 OK $135 $43 $210,000 $45 $190,000 5 4,500 \begin{tabular}{|c|c|} \hline \\ \hline 0 \\ \hline \end{tabular} 22 24 27 1 Excel McGraw Hill Excel Question - Saved (Use cells A4 to B17 from the given information, as well as A26 to C52 to complete this question. All answers should be input and 22 displayed as positive values.) 23 24 1. Assume the company uses variable costing: 25 26 Compute the unit product cost for one fireplace Excel McGraw Hill Excel Question - Saved Search (Alt + Q) File Home Insert Draw Formulas Data Review View Help A1 fx Accessibility tab summary: Financial data for Addison Incorporated is presented in rows 4 to 17. A sta Legend Graded cell: Leave blank if no answer is needed. Scratchpad: Use as a non-graded workspace