O A Instructions B Formulas Req 1 Chi C 2 Chapter 1: Applying Excel Name: D Req 2 Ch1 BAL Shape Media F G H G#: 3 4 Data 5 Sales 6 Variable costs: B 9 10 Cost of goods sold Variable selling Variable administrative Fixed costs: 11 Fixed selling 12 Fixed administrative $12,000 $6,000 $600 $400 $2,500 $1,500 13 14 15 16 17 Enter a formula into each of the green cells marked with a ? below. Once complete use the "Copy Formula" button. Exhibit 1-7 Traditional Format Income Statement 18 Sales 10 Cost of goods sold 20 Gross margin $ 12.000 6.000 6,000 Copy Formulas 21 Selling and administrative expenses: 22 Selling $ 3,100 23 Administrative 1,900 24 Net operating income 5,000 $ 1,000 26 26 Contribution Format Income Statement 27 Sales $ 12,000 28 Variable expenses: 29 Cost of goods sold $ 6,000 30 Variable selling 600 31 Variable administration 400 7,000 32 Contribution margin 5.000 33 Fixed expenses: 34 Fixed selling 2,500 35 Fixed administrative 1,500 4.000 36 Net operating income $ 1,000 37 38 42