here is the spreadsheet. i can fill it in once given answers to each yellow question mark
Variable and Absorption Costing Spreadsheet Instructions Due October 9, 2020 1. Download and complete the spreadsheet found in the Variable and Absorption Costing Spreadsheet Dropbox by inserting either formulas or cell references in all cells highlighted yellow. Each cell that requires a formula or cell reference has a question mark in it. Originally the fixed manufacturing overhead in cell D9 is $360,000. The absorption costing net operating income should be $366,000 and the variable costing net operating income should be $330,000. 2. Check the accuracy of the formulas in your spreadsheet by changing the amount of fixed manufacturing overhead in cell D9 from $360,000 to $405,000. This should cause both of your net operating incomes to change. The absorption costing net operating income should now be $325,500 and the variable costing net operating income should now be $285,000. If the net operating incomes don't recalculate correctly, fix the errors in your spreadsheet before you submit it. 3. Upload your spreadsheet to the Dropbox. Drake Company produces and sells a single product, a cotton sweatshirt. Cost and operating data are given below: $42.00 Selling price per sweatshirt Manufacturing costs: Variable (per sweatshirt): DM DL Variable Manuf O/H Fixed Manuf O/H per year $19.00 $6.00 $4.00 $360,000.00 Selling and Administrative expenses: Variable (per sweatshirt) Fixed Selling and Admin expense per year $3.00 $120.000.00 90.000 81.000 Sweatshirts produced during the year Sweatshirts sold during the year Absorption Costing Calculate Unit Product Cost: DM DL Variable Manuf O/H Fixed Manuf O/H Total Unit Product Cost ? 2 Absorption Costing Income Statement: Sales Cost of Goods Sold Gross Profit Selling and Admin Expense: Variable Selling and Admin expense Fixed Selling and Admin expense Net Operating Income Variable Costing Calculate Unit Product Cost: DM DL Variable Manuf O/H Total Unit Product Cost Variable Costing Income Statement: Sales Variable expenses COGS Variable Selling and Admin expense Contribution Margin Fixed expenses Fixed Manuf OH Fixed Selling and Admin expense Net Operating Income Drake Company produces and sells a single product, a cotton sweatshirt. Cost and operating data are given below. $42.00 Selling price per sweatshirt Manufacturing costs Variable (per sweatshirt): DM DL Variable ManufO/H Fixed Manuf/H per year $19.00 $6.00 $4.00 $360,000.00 $3.00 $120,000.00 Selling and Administrative expenses Variable (per sweatshirt) Fixed Selling and Admin expense per year Sweatshirts produced during the year Sweatshirts sold during the year Absorption Costing: 90.000 81,000 Calculate Unit Product Costa DM DL Variable Manuf O/H Fixed Manuf O/H Total Unit Product Cost 7 2 ? 2 2 Absorption Costing Income Statement: Sales Cost of Goods Sold Gross Profit Selling and Admin Expense: Variable Selling and Admin expense Fixed Selling and Admin expense Net Operating Income ? H- Variable Costing: Calculate Unit Product Cost: e. DM DL Variable Manuf O/H Total Unit Product Cost Variable Costing Income Statement Sales Variable expenses COGS Variable Selling and Admin expense Contribution Margin Fixed expenses Fixed Manuf OVH Fixed Selling and Admin expense Net Operating Income
