Please use cell references for the answers to the yellow boxes

Variable and Absorption Costing Excel Sign FILE HOME DATA INSERT PAGE LAYOUT FORMULAS REVIEW VIEW Calibri 11 A A Conditional Format as Cell Cells Paste Alignment Number B IU Table Styles Formatting Clipboard Font Styles Addison, Inc. makes a single product, an indoor fireplace. Data for last year is as A1 X A C D 1 Addison, Inc. makes a single product, an indoor fireplace. Data for last year is as follows: 2 3 Selling price per fireplace 4 Manufacturing costs: Variable per unit produced: $420 5 $135 Direct materials 6 $43 Direct labor 7 $37 Variable manufacturing overhead Fixed manufacturing overhead per year 10 Selling and administrative expenses: $210,000 9 $45 Variable per unit sold 11 Fixed per year $190,000 12 13 14 Units in beginning inventory 15 Units produced during the year 16 Units sold during the year 5,000 4,500 17 18 Use the data to answer the following. 1. Assume the company uses variable costing: Compute the unit product cost for one fireplace Prepare a contribution margin income statement for the year Sales Variable expenses: Variable cost of goods sold Variable selling and administrative expenses Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses Net operating income Compute the number of fireplaces required to breakeven 2. Assume the company uses absorption costing: Compute the unit product cost for one fireplace Prepare an income statement for the year Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income