Please help on this problem! **Will Upvote Correct Answer**

Here are my professors instructions:

The LIFO Inventory flow assumption is used throughout the problem. The cost of goods sold under absorption costing for Year 2 should be $304,000. If it Isn't, check cell C41. The formula in this cell should be =IF(C26

1 Chapter TH Apoline Excel 2 3 Data 4 Selling price per unit $50 5 Manufacturing costs: 6 Variable per unit produced: 7 Direct materials $11 B Direct labor $6 9 Variable manufacturing overhead $3 10 Fixed manufacturing overhead per year $120,000 11 Selling and administrative expenses 12 Variable per unit sold 13 Fixed per year $70,000 14 15 Yeart Year 2 16 Units in beginning inventory 0 17 Units produced during the year 10,000 6,000 18 Units sold during the year 8,000 8,000 19 20 Enter a formula into each of the calls marked with a ? below 21 Review Problem 1: Contrasting Variable and Absorption Costing 22 23 Compute the Ending Inventory 24 Year 1 Year 2 25 Units in beginning inventory 0 7 26 Units produced during the year 2 2 27 Units sold during the year ? 2 28 Units in ending inventory 3 7 29 30 Compute the Abearption Coating Unit Product Coat 31 Year 1 Year 2 32 Direct materials 2 33 Direct labor 2 ? 34 Variable manufacturing overhead ? 7 35 Fixed manufacturing overhead 2 7 36 Absorption conting unit product cont 7 7 37 38 Construct the Absorption Costing Income Statement 39 Year 1 Year 2 40 Sales ? 7 41 Cost of goods sold 2 7 42 Gross margin 7 ? 43 Selling and administrative expenses ? 7 44 Nat operating income 2 ? 45 46 Compute the Variable Costing Unit Product Cost 47 Yeart Year 2 48 Direct materials ? 7 49 Direct labor 7 ? 50 Variable manufacturing overhead 2 2 51 Variable costing unit product cost 7 2 S2 53 Construct the Variable Costing Income Statement 54 Year 1 55 Sales 7 56 Variable expenses 57 Variable cost of goods sold 7 58 Variable selling and administrative expenses 2 2 59 Contribution margin 2 60 Fixed expenses 61 Fixed manufacturing overhead 2 62 Fixed selling and administrative expenses ? 63 Net operating income 1 64 Year 2 7 7 7 ? 7