Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help with 2B and 3B ! Required information The Chapter 6 Form worksheet is to be used to create your own worksheet version

i need help with 2B and 3B
image text in transcribed
image text in transcribed
image text in transcribed
! Required information The Chapter 6 Form worksheet is to be used to create your own worksheet version of the Review Problem in the text. 2. Change all of the numbers in the data area of your worksheet so that it looks like this: A B $ 376 1 Chapter 6: Applying Excel 2 3 Data 4 Selling price per unit 5 Manufacturing costs: -6 Variable per unit produced 7 Direct materials 8 Direct labor 9 Variable manufacturing overhead 10 Fixed manufacturing overhead per year 11 Selling and administrative expenses 12 Variable per unit sold 13 Fixed per year 14 15 16 Units in beginning inventory 17 Units produced during the year 18 Units sold during the year $ $ $ $ 143 72 36 153,600 $ $ 2 34,000 Year Year 2 0 3.200 2.700 2.400 2,700 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the net operating income (loss) in Year 1 under absorption costing? 4:06:25 Net operating income $ 138,500 Book Print @ rences (b) What is the net operating income (loss) in Year 2 under absorption costing? Net operating Income Required information correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Units were left over from the previous year. The cost of goods sold is always less under variable costing than under absorption costing. Sales exceeded production to some of the fixed manufacturing overhead of the perlod was released from inventories under absorption costing 3. Make a note of the absorption costing net operating income (loss) in Year 2. At the end of Year 1, the company's board of directors set a target for Year 2 of net operating income of $180,000 under absorption costing. If this target is met, a Hefty bonus would be paid to the CEO of the company, Keeping everything else the same from part (2) above, change the units produced in Year 2 to 4,800 units. (a) Would this change result in a bonus being paid to the CEO? Yes O No (b) What is the net operating Income (loss) in Year 2 under absorption costing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475

More Books

Students also viewed these Accounting questions