Need answers for the highlighted cells in question 1 and 2 (Formula's)
JPL, Inc. has provided its sales and expense data for the most recent period. The Controller has asked you prepare a spreadsheet that shows the related CVP Analysis computations. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. points Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "=B5 was entered, the formula would output the result from cell B5, or 75 in this example. Basic Math functions: 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"=B5+B6 was entered, the formula would add the values from those cells and output the result, or 120 in this example. If using the other math symbols the result would output an appropriate answer for its function. eBook Print ? X XS-a. FILE HOME CVP Analysis - Excel FORMULAS DATA - Sign In INSERT PAGE LAYOUT REVIEW VIEW Calibri Paste BIU. - - A Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles 5 Clipboard points F1 eBook 1 |Given the following information complete a CVP analysis 2 for JPL, Inc.: Print in 4 Unit sales 5 Selling price per unit 6 Variable expenses per unit 7 Fixed expenses 11,200 units $75 per unit $45 per unit $210,000 References 9 Use the data to answer the following. 11 1. Compute the CM ratio and variable expense ratio 12 Selling price per unit 13 Variable expenses per unit 14 Contribution margin per unit per unit per unit per unit 15 16 CM ratio 17 Variable expense ratio 19 2. Compute the break-even point 20 Break-even in unit sales 21 Break-even in dollar sales units 23 3. Compute the margin of safety 24 Margin of safety in dollars ... Sheet1 ... + ? - CVP Analysis - Excel FORMULAS DATA FILE HOME INSERT PAGE LAYOUT REVIEW VIEW Sign In Cells Editing points Paste B I U - 2- Clipboard Font * v A 16 CM ratio 17 Variable expense ratio A - Alignment Number Conditional Format as Cell Formatting Table Styles Styles fic B C D F1 E eBook Print 19 2. Compute the break-even point 20 Break-even in unit sales 21 Break-even in dollar sales units References 23 3. Compute the margin of safety 24 Margin of safety in dollars 25 Margin of safety percentage 27 4. Compute the degree of operating leverage 28 Sales 29 Variable expenses Contribution margin 31 Fixed expenses 32 Net operating income 34 Degree of operating leverage ... Sheet1 ... + Jay Corporation has provided data from a two-year period to aid in planning. The Controller has asked you to prepare a contribution format income statement. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. points 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. Basic Math functions: 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 result would be 47,300 in this example. eBook Print References ? X XS-a, FILE HOME High-Low Method; Contribution Format Income Statement - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW - Sign In INSERT Calibri Paste B I U - - Cells Editing A - Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font points F2 1 To aid in planning, Jay Corporation is preparing a contribution format income statement. eBook 4 Budgeted information for Quarter 1 of Year 3: Sales in units Sales price per unit Print 17,000 48.00 References 7 After analyzing expenses, the company has determined the following cost patterns. Cost of goods sold 29.00 per unit Sales commissions 9.50% per dollar of sales $ Administrative salaries Rent expense Depreciation expense 45,000.00 per quarter 27,000.00 per quarter 36,000.00 per quarter 13 14 Management has concluded that shipping expense is a mixed cost. Units shipped and the related shipping cost over the last eight quarters are: 17 Year 1 18 Quarter 1 Quarter2 20 Quarter 3 21 Quarter 4 22 Year 2 23 Quarter 1 ... Total Shipping Cost 67,000.00 94,000.00 89,800.00 92,600.00 Units 12,500 21,000 13,800 20,000 72 500 13 700 Sheet1 ... + RFANY -+ 100% ? X - Sign In XS-a, High-Low Method; Contribution Format Income Statement - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri -11 - = % Paste B I U - A Alignment Number Conditional Format as Cell Cells Formatting Table Styles Clipboard Font Styles Editing points F2 eBook 22 Year 2 Quarter 1 24 Quarter2 Quarter 3 Quarter 4 $ 72,500.00 80,000.00 84,000.00 100,000.00 13,700 14,000 14,300 22,500 $ Print $ 28 Use the data to answer the following. References 30 1. Using the high-low method, determine a cost formula for shipping expenses. Total Shipping Cost Units 33 High level of activity 34 Low level of activity 35 Change in activity 37 Variable cost per unit 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 44 2. Prepare a contribution format income statement for Quarter 1 of Year 3. 45 ... Sheet1 ... + READY -+ 100% s ? X A FILE - Sign In * s , B High-Low Method; Contribution Format Income Statement - Excel HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri -11 - A = % D B I U - - - A - Alignment Number Conditional Format as Cell Formatting Table Styles Styles v v fix Paste Cells Editing Clipboard Font points 2. Prepare a contribution format income statement for Quarter 1 of Year 3. eBook Jay Corporation Budgeted Contribution Format Income Statement For Year 3, Quarter 1 Print References 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 Rent expense Shipping expense 61 Depreciation expense 62 Total fixed expenses 63 Net operating income ... Sheet1 ... +
