$\backslash$table$[[$Chapter $7$: Applying Excel,,,,$],[$Data$],[$Selling price per unit,$$50,,,],[$Manufacturing costs:$],[$Variable per unit produced:$],[$Direct materials,$$11,,,],[$Direct labor,$$6,,,],[$Variable manufacturing overhead,$$3,,,],[$Fixed manufacturing overhead per year,$$120,000,,,],[$Selling and administrative expenses:$],[$Variable per unit sold,$$4,,,],[$Fixed per year,$$70,000,,,],[$Year $1,$Year $2,,],[$Units in beginning inventory,$0,,,],[$Units produced during the year,$10,000,6,000,,],[$Units sold during the year,$8,000,8,000,,],[$Enter a formula into each of the cells marked with a $?$ below$],[$Review Problem $1$: Contrasting Variable and Absorption Costing$],[$Compute the Ending Inventory$],[,$Year $1,$Year $2,,],[$Units in beginning inventory,$0,?,,],[$Units produced during the year,?,?,,$],[$Units sold during the year,?,?,,$],[$Units in ending inventory,?,?,,$],[$Compute the Absorption Costing Unit Product Cost$],[,$Year $1,$Year $2,,],[$Direct materials,?,?,,$],[$Direct labor,?,?,,$],[$Variable manufacturing overhead,?,?,,$],[$Fixed manufacturing overhead,?,?,,$],[$Absorption costing unit product cost,?,?,,$],[$Construct the Absorption Costing Income Statement$],[,$Year $1,$Year $2,,],[$Sales$,?,?,,],[$Cost of goods sold,?,?,,$],[$Gross margin,?,?,,$],[$Selling and administrative expenses,?,?,,$],[$Net operating income,?,?,,$],[$Compute the Variable Costing Unit Product Cost$],[,$Year $1,$Year $2,,],[$Direct materials,?,?,,$],[$Direct labor,?,?,,$],[$Variable manufacturing overhead,?,?,,$],[$Variable costing unit product cost,?,?,,$],[$Construct the Variable Costing Income Statement$],[,$Year $1,$Year $2],[$Sales$,,?,,?$