1234567891011Chapter 1: Applying Excel Data Sales$66,640Variable costs: Cost of goods sold$38,080Variable selling$3,808Variable administrative$3,584Fixed costs: Fixed selling$2,500Fixed administrative$1,500 Enter this new data into your worksheet. Make sure you enter all of the new data - not just the sales.(a) What is the gross margin now? (b) What is the net operating income now? (c) What is the contribution margin now?

Gross margin = Sales - Cost of goods sold Contribution margin = Sales - Total variable costs

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Chapter 1: Applying Excel

Data
Sales	$66,640
Variable costs:
Cost of goods sold	$38,080
Variable selling	$3,808
Variable administrative	$3,584
Fixed costs:
Fixed selling	$2,500
Fixed administrative	$1,500

Enter this new data into your worksheet. Make sure you enter all of the new data - not just the sales.

(a) What is the gross margin now?

(b) What is the net operating income now?

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