Could you assist with the formuals to calculate the cell answers?
Jay Corporation has provided data from a two-year period to ald in planning. The Controller has asked you to prepare a contribution format ncome statement. Use the Information Included in the Excel SImulation and the Excel functions described below to complete the task. 5 Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, If In a blank cell, "-B4" was entered, the formula would output the result from cell B4, or 17,000 In this example . Besic Math functlons: Allows 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). From the Excel Simulation below, If In a blank cell -B19+B20" was entered, the formula would add the values from those cells and output the result, or 183,800 In this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel SImulation below, If in a blank cell "-SUM(C18,C19,C20)" was entered, the formula would output the result of adding those three separate cells, or 47,300 In this example. Similarly, If in a blank cell -sUM(C18 C20)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the resuit would be 47,300 in this example. 5 Paste AAlignment Number Conditional Format as Ce Cells Editing Formatting Table Styles- Clipboard F X | | To aid in planning, Jay Corporation is preparing a contribution format income 1 To aid in planning, Jay Corporation is preparing a contribution format income statement. 3 Budgeted information for Quarter 1 of Year 3: 4Sales in units 5 Sales price per unit 17,000 48.00 After analyzing expenses, the company has determined the following cost patterns. 8 Cost of goods sold 9 Sales commissions 10 11 Administrative salaries 12 Rent expense 13 Depreciation expense 14 29.00 per unit 9.50% per dollar of sales 45,000.00 per quarter 27,000.00 per quarter 36,000.00 per quarter 15 Management has concluded that shipping expense is a mixed cost. Units shipped and the related shipping cost over the last eight quarters are: 16 17 Year 1 18 Quarter 1 19 Quarter2 Total Shipping Cost 67,000.00 94,000.00 Units 12,500 21,000 A1 XfTo aid in planning, Jay Corporation is preparing a contribution format income 20 Quarter 3 21 Quarter 4 22 Year 2 23 Quarter 1 24 Quarter2 25 Quarter 3 26 Quarter 4 27 28 89,800.00 92,600.00 13,800 20,000 72,500.00 80,000.00 84,000.00 100,000.00 13,700 14,000 14,300 22,500 Use the data to answer the following 29 30 1. Using the high-low method, determine a cost formula for shipping expenses 31 32 33 High level of activity 34 Low level of activity 35 Change in activity Total Shipping Cost Units 37 variable cost per unit 39 Compute the fixed cost portion using the high level of activity A1 XfTo aid in planning, Jay Corporation is preparing a contribution format income 39 Compute the fixed cost portion using the high level of activity 40 Total cost at high level of activity 41 Less: Variable cost element 42 Total fixed cost 442. Prepare a contribution format income statement for Quarter 1 of Year 3 46 47 48 49 50 Sales 51 Variable expenses: 52 Cost of goods sold 53 Sales commissions 54 Shipping expense 55 Total variable expenses 56 Contribution margin 57 Fixed expenses: 58 Administrative salaries Jay Corporation Budgeted Contribution Format Income Statement For Year 3, Quarter 1 442. Prepare a contribution format income statement for Quarter 1 of Year 3 45 46 47 48 49 50 Sales 51 Variable expenses: 52 Cost of goods sold 53 Sales commissions 54 Shipping expense 55 Total variable expenses 56 Contribution margin 57 Fixed expenses: 58 Administrative salaries 59 Rent expense 60 Shipping expense 61 Depreciation expense 62 Total fixed expenses 63 Net operating income 64 65 Jay Corporation Budgeted Contribution Format Income Statement For Year 3, Quarter 1 ...Sheetl... 4+ READY + 100%
