Enter a formula into each of the cells marked with a ? below
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:A
1 Chapter 7: Applying Excel
2
3 Data
4 Selling price per unit
5 Manufacturing costs:
6
7
8
Variable per unit produced:
Direct materials
Direct labor
Variable manufacturing overhead
9
10 Fixed manufacturing overhead per year
11 Selling and administrative expenses:
12 Variable per unit sold
13
Fixed per year
14
15
16 Units in beginning inventory
17 Units produced during the year
18 Units sold during the year
25 Units in beginning inventory
26 Units produced during the year
27 Units sold during the year
28 Units in ending inventory
29
30 Compute the Absorption Costing Unit Product Cost
31
32 Direct materials
33 Direct labor
34 Variable manufacturing overhead
35 Fixed manufacturing overhead
36 Absorption costing unit product cost
37
19
20 Enter a formula into each of the cells marked with a ? below
21 Review Problem 1: Contrasting Variable and Absorption Costing
22
23 Compute the Ending Inventory
24
46 Compute the Variable Costing Unit Product Cost
47
48 Direct materials
49 Direct labor
50 Variable manufacturing overhead
51 Variable costing unit product cost
52
53 Construct the Variable Costing Income Statement
54
55 Sales
56 Variable expenses:
B
38 Construct the Absorption Costing Income Statement
39
40 Sales
41 Cost of goods sold
42 Gross margin
43 Selling and administrative expenses
44 Net operating income
45
57 Variable cost of goods sold
58 Variable selling and administrative expenses
59 Contribution margin
60 Fixed expenses:
61 Fixed manufacturing overhead
62 Fixed selling and administrative expenses
63 Net operating income
64
65
66
$50
$11
$6
$3
$120,000
$4
$70,000
Year 1
0
10,000
8,000
Year 1
Year 1
Year 1
Year 1
0
2
?
?
?
?
2
?
?
?
?
?
?
?
?
?
?
?
Year 1
?
?
?
?
с
Year 2
6,000
8,000
Year 2
Year 2
Year 2
Year 2
?
?
?
?
?
?
?
?
?
?
2
?
?
?
?
?
?
?
?
?
2
?
?
D
Year 2
?
?
?
?
E
?
?
?
?
?
F
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 9 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education