Question
This question requires me to fill in the excel question marks (?) first, and then modify the data to ensure i get the amounts listed
This question requires me to fill in the excel question marks (?) first, and then modify the data to ensure i get the amounts listed in the description by changing the data. I copied the information directly from a spreadsheet, i dont know how or if i can attach the original file. If possible, i need both the original information, and the information when it has been changed to match the loss of $34,000. If that is too much to ask, just give me the original information when it matches the 34,000 loss , undo the change that made it math 34,000 and i can take it from there.
How to paste this into an excel document: Put the cursor to the left of "Chapter 6: Applying Excel", and select to the bottom. Paste into a excel document by first selecting a through e and down to line 63 then ctrl+V to paste in the content. It should paste in perfectly. Net operating income should fall on line 63. Compute the Absorption Costing Unit Product Cost should land in line 30.
Message me your email if you would like the spreadsheet to work with. thank you in advance.
Chapter 6: 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 | ? | ? | ||
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 | ? | ? |
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