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How much will Sona show for COGS this year? Cost of goods sold How much will she report for FG Inventory cost on the balance sheet? Ending Finished Goods Inventory cost

How much will Sona show for COGS this year? Cost of goods sold How much will she report for FG Inventory cost on the balance sheet? Ending Finished Goods Inventory cost

FINANCIAL ACCOUNTING
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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B Formula: Multiply, Subtract; Cell Referencing BE12.4 - Using Excel to Calculate Cost of Goods Sold and Inventory Cost Under Variable Costing Number of tables planned and produced Number of tables sold PROBLEM It was the end of Sona's first year of business. She had planned and produced more hardwood tables than anticipated. She wanted to use variable costing from the start of her operations to set a baseline for future year comparisons. Her costs, production and tables sold were as follows. Variable manufacturing cost per unit Variable operating cost per unit C Fixed manufacturing cost Fixed operating cost $ 30 1 D 70 10 5,000 3,000 E G H Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much will Sona show for COGS this year? Cost of goods sold How much will she report for FG Inventory cost on the balance sheet? Ending Finished Goods Inventory cost
Transcribed Image Text:B Formula: Multiply, Subtract; Cell Referencing BE12.4 - Using Excel to Calculate Cost of Goods Sold and Inventory Cost Under Variable Costing Number of tables planned and produced Number of tables sold PROBLEM It was the end of Sona's first year of business. She had planned and produced more hardwood tables than anticipated. She wanted to use variable costing from the start of her operations to set a baseline for future year comparisons. Her costs, production and tables sold were as follows. Variable manufacturing cost per unit Variable operating cost per unit C Fixed manufacturing cost Fixed operating cost $ 30 1 D 70 10 5,000 3,000 E G H Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much will Sona show for COGS this year? Cost of goods sold How much will she report for FG Inventory cost on the balance sheet? Ending Finished Goods Inventory cost
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