Chapter 6: Applying Excel Please show equations in each cell with a '?'

Data

Selling price per unit

$50

Manufacturing costs:

Variable per unit produced:

Direct materials

$11

Direct labor

$6

Variable manufacturing overhead

$3

Fixed manufacturing overhead per year

$120,000

Selling and administrative expenses:

Variable per unit sold

$4

Fixed per year

$70,000

Year 1

Year 2

Units in beginning inventory

0

Units produced during the year

10,000

6,000

Units sold during the year

8,000

8,000

Enter a formula into each of the cells marked with a ? below

Review Problem 1: Contrasting Variable and Absorption Costing

Compute the Ending Inventory

Year 1

Year 2

Units in beginning inventory

0

?

Units produced during the year

?

?

Units sold during the year

?

?

Units in ending inventory

?

?

Compute the Absorption Costing Unit Product Cost

Year 1

Year 2

Direct materials

?

?

Direct labor

?

?

Variable manufacturing overhead

?

?

Fixed manufacturing overhead

?

?

Absorption costing unit product cost

?

?

Construct the Absorption Costing Income Statement

Year 1

Year 2

Sales

?

?

Cost of goods sold

?

?

Gross margin

?

?

Selling and administrative expenses

?

?

Net operating income

?

?

Compute the Variable Costing Unit Product Cost

Year 1

Year 2

Direct materials

?

?

Direct labor

?

?

Variable manufacturing overhead

?

?

Variable costing unit product cost

?

?

Construct the Variable Costing Income Statement

Year 1

Year 2

Sales

?

?

Variable expenses:

Variable cost of goods sold

?

?

Variable selling and administrative expenses

?

?

?

?

Contribution margin

Chapter 6: Applying Excel
Data
Selling price per unit	$50
Manufacturing costs:
Variable per unit produced:
Direct materials	$11
Direct labor	$6
Variable manufacturing overhead	$3
Fixed manufacturing overhead per year	$120,000
Selling and administrative expenses:
Variable per unit sold	$4
Fixed per year	$70,000
	Year 1	Year 2
Units in beginning inventory	0
Units produced during the year	10,000	6,000
Units sold during the year	8,000	8,000
Enter a formula into each of the cells marked with a ? below
Review Problem 1: Contrasting Variable and Absorption Costing
Compute the Ending Inventory
	Year 1	Year 2
Units in beginning inventory	0	?
Units produced during the year	?	?
Units sold during the year	?	?
Units in ending inventory	?	?
Compute the Absorption Costing Unit Product Cost
	Year 1	Year 2
Direct materials	?	?
Direct labor	?	?
Variable manufacturing overhead	?	?
Fixed manufacturing overhead	?	?
Absorption costing unit product cost	?	?
Construct the Absorption Costing Income Statement
	Year 1	Year 2
Sales	?	?
Cost of goods sold	?	?
Gross margin	?	?
Selling and administrative expenses	?	?
Net operating income	?	?
Compute the Variable Costing Unit Product Cost
	Year 1	Year 2
Direct materials	?	?
Direct labor	?	?
Variable manufacturing overhead	?	?
Variable costing unit product cost	?	?
Construct the Variable Costing Income Statement
	Year 1		Year 2
Sales		?		?
Variable expenses:
Variable cost of goods sold	?		?
Variable selling and administrative expenses	?	?	?	?
Contribution margin		?		?
Fixed expenses:
Fixed manufacturing overhead	?		?
Fixed selling and administrative expenses	?	?	?	?
Net operating income		?		?

?

?

Fixed expenses:

Fixed manufacturing overhead

?

?

Fixed selling and administrative expenses

?

?

?

?

Net operating income

?

?