Ces 4. Assume the company wants to adapt the information in the "Cost Summary" tab to prepare a contribution format income statement. Within the "Income Statements" tab of your template, and using the Sum IFS function to quantify all variable and fixed expenses. a. Prepare a contribution format income statement. (Hint The cost of goods sold should include all direct materials, direct labor, and variable manufacturing overhead. The fixed manufacturing overhead costs should be included within the "Fixed expenses" portion of the income statement) b. Based on the contribution format income statement, what is the contribution margin? c. Based on the contribution format income statement, what is the net operating income? Complete this question by entering your answers in the tabs below. Req 4A Req 48 Req 4C Prepare a contribution format income statement. (Hint: The cost of goods sold should include all direct materials, direct labor, and variable manufacturing overhead. The fixed manufacturing overhead costs should be included within the "Fixed expenses" portion of the income statement.) The cost of goods sold in this income statement a Req 48 > 4. Assume the company wants to adapt the information in the "Cost Summary tab to prepare a contribution format income statement. Within the "Income Statements" tab of your template, and using the Sum IFS function to quantify all variable and fixed expenses: a. Prepare a contribution format income statement. (Hint: The cost of goods sold should include all direct materials, direct labor, and variable manufacturing overhead. The fixed manufacturing overhead costs should be included within the "Fixed expenses" portion of the income statement) b. Based on the contribution format income statement, what is the contribution margin? c. Based on the contribution format income statement, what is the net operating income? Complete this question by entering your answers in the tabs below. Req 4A Red 48 Req 4C Based on the contribution format income statement, what is the contribution margin? The contribution margin is ces 4. Assume the company wants to adapt the information in the "Cost Summary" tab to prepare a contribution format income statement. Within the "Income Statements" tab of your template, and using the Sum IFS function to quantify all variable and fixed expenses a. Prepare a contribution format income statement. (Hint The cost of goods sold should include all direct materials, direct labor, and variable manufacturing overhead. The fixed manufacturing overhead costs should be included within the "Fixed expenses" portion of the income statement) b. Based on the contribution format income statement, what is the contribution margin? c. Based on the contribution format income statement, what is the net operating income? Complete this question by entering your answers in the tabs below. Req 4A Req 40 Rea 4d Based on the contribution format income statement, what is the net operating income? The net operating income is 1 Product/ Cost Classifications: Nonmanufacturin Fixed/ 2 3 Equipment depreciation: Molding 4 Equipment depreciation: Fabrication Account Amount Period Variable 5 Equipment depreciation: Assembly 6 Equipment depreciation: Materials Handling 7 Equipment depreciation: Other 8 Production suprvision: Molding 9 Production supervision: Fabrication sssssss 400,000 Product MOH Fixed 300,000 Product MOH Fixed S 50,000 Product MOH Fixed 15,000 Product MOH Fixed 10,000 Product MOH Fixed $ 60,000 Product MOH Fixed S 65,000 Product MOH Fixed 10 Production supervision: Assembly $ 58,000 Product MOH Fixed 11 Indirect labor: Maintenance & Repairs $ 72,000 Product MOH Fixed 12 Indirect labor: Materials Handling S 68,000 Product MOH Fixed 13 Indirect labor: Engineering $ 170,000 Product MOH Fixed 14 Indirect labor: Raw Materials Purchasing $ 93,000 Product MOH Fixed 15 Indirect labor: Quality Control S 38,000 Product MOH Fixed 16 Indirect labor: Packaging & Shipping S 99,000 Product MOH Fixed 17 Indirect materials: Molding $ 18,000 Product MOH Variable 18 Indirect materials: Fabrication S 13,000 Product MOH Variable 19 Indirect materials: Assembly S 8,000 Product MOH Variable 20 Utilities: Molding 21 Utilities: Fabrication 22 Utilities: Assembly 23 Utilties: Plant lighting and other equipment 5555 $ 24,000 Product MOH Variable 20,000 Product MOH Variable 6,000 Product MOH Variable 12,000 Product MOH Fixed 24 Utilities: Heating and cooling S 24,000 Product MOH Fixed 25 Property insurance 26 Liability insurance 55 26,000 Product MOH Fixed 18,000 Product MOH Fixed 27 Medical insurance S 45,000 Product MOH Fixed 28 Workers' compensation insurance S 13,000 Product MOH Fixed 29 Other salaries: Plant manager $ 165,000 Product MOH Fixed 30 Other salaries: Accounting $ 89,000 Product MOH Fixed 31 Other salaries: Administrative support S 56,000 Product MOH Fixed 32 Other salaries: Janitorial $ 48,000 Product MOH Fixed 33 Other salaries: Security and grounds maintenanci S 44,000 Product MOH Fixed 34 Property taxes S 18,000 Product MOH Fixed 35 Payroll taxes: Direct labor $ 79,000 Product MOH Variable 36 Payroll taxes: Other S 165,000 Product MOH Fixed 37 Direct materials 38 Direct labor 39 Accounting manager's salary 40 Administrative office insurance 41 Advertising $ 2,220,000 Product Direct materials Variable $ 1,365,000 Product Direct labor Variable S 88,000 Period Administrative Fixed $ 2,000 Period Administrative Fixed $ 400,000 Period Selling Fixed 42 Depreciation on office equipment $ 15,000 Period Administrative 43 Heat & electricity for the general office Fixed $ 4,000 Period 44 Janitorial services for administrative offices Administrative Fixed S 26,000 Period 45 Salaries of accounts receivable/payable clerks Administrative Fixed $ 78,000 Period 46 Sales commissions Administrative Fixed S 47 Sales manager's salary 480,000 Period: Selling Variable $ 120,000 Period 48 Supplies for administrative office $ 1,000 Period 49 Customer billing supplies Selling Administrative Fixed $ 2,000 Period 50 Administrative Fixed Variable PivotTable Chasti