Chapter 6: Applying Excel 3 Data Selling price per unit 5 Manufacturing costs: $50 6 Variable per unit produced 7 Direct materials 8 Direct labor 9 10 Variable manufacturing overhead Fixed manufacturing overhead per year 11 Selling and administrative expenses: 12 Variable per unit sold 13 Fixed per year 14 15 $11 $6 $120,000 28 18 $4 $70,000 Year 1 Year 2 0 2,000 17 Units produced during the year 10,000 6,000 18 Units sold during the year 8,000 8,000 19 20 Enter a formula into each of the cells marked with a ? below 16 Units in beginning inventory 21 Review Problem 1: Contrasting Variable and Absorption Costing 22 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 Year 1 Year 2 2,000 10,000 6,000 8,000 8,000 2.000 29 30 Compute the Absorption Costing Unit Product Cost 31 Year 1 Year 2 32 Direct materials) $11 $11 33 Direct labor 6 6 3 3 35 Fixed manufacturing overhead 12 20 $32 MIH40 Year 1 Year 2 $400,000 $400,000 34 Variable manufacturing overhead 36 Absorption costing unit product cost 37 38 Construct the Absorption Costing Income Statement 39 40 Sales 41 Cost of goods sold 42 Gross margin 43 Selling and administrative expenses 44 Net operating income 45 46 Compute the Variable Costing Unit Product Cost $256,000 320,000 144,000 80,000 102.000 102,000 $42,000 $ (22,000) 47 48 Direct materials 49 Direct labor Yeart Year 2 $11 $11 6 6 52 54 55 Sales 50 Variable manufacturing overhead 51 Variable costing unit product cost 53 Construct the Variable Costing Income Statement 56 Variable expenses 3 $20 M $20 Year 1 Year 2 $ 400,000 $ 400,000 57 Variable cost of goods sold $ 160,000 58 Variable selling and administrative expenses 32.000 59 Contribution margin 192,000 208,000 $160,000 32.000 192,000 208,000 60 Fixed expenses 61 Fixed manufacturing overhead 120,000 120,000 62 Fixed selling and administrative expenses 70,000 63 Net operating income $ 190,000 16,000 70,000 190,000 $ 18.000 Chapter 6 Form +