Chapter 6_Applying_Excel_Student Form.xls Chapter 6: Applying Excel Data Selling price per unit Manufacturing costs: $50 Variable per unit produced: $11 $6 $3 $120,000 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses Variable per unit sold Fixed per year $4 $70,000 Year 1 Year 2 Units in beginning inventory Units produced during the year Units sold during the year 10,000 8,000 6,000 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 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 2 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: ad Fixed manufacturing overhe Fixed selling and administrative expenses Net operating income