Question
What do you mean by excel format? it doesnt let me add the actual file. I need the formula for every answer found because I
What do you mean by excel format? it doesnt let me add the actual file. I need the formula for every answer found because I need to put it into an excel spreadsheet. Do not answer if you are just copying and pasting another answer. Thank you!
For example, in cell B26 enter the formula "=B17". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the numbers in review problem 1.
The LIFO inventory flow assumption is used throughout the problem. Check your worksheet by changing the units sold in the Data to 6000 for year 2. the cost of goods sold under absorbtion costing for year 2 should now be $240,000. If it isn't, check cell C41. The formula in this cell should be =IF(C26
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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