Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: Chapter 1: Applying Excel Data Sales $59,500 Variable costs: Cost of goods sold $34,000 Variable selling $3,400 Variable administrative $3,200 Fixed costs: Fixed selling $2,500 Fixed administrative $1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? (b) What is the net operating income now? (c) What is the contribution margin now?
Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: Chapter 1: Applying Excel Data Sales $59,500 Variable costs: Cost of goods sold $34,000 Variable selling $3,400 Variable administrative $3,200 Fixed costs: Fixed selling $2,500 Fixed administrative $1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? (b) What is the net operating income now? (c) What is the contribution margin now?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this:
| Chapter 1: Applying Excel | |
| Data | |
| Sales | $59,500 |
| Variable costs: | |
| Cost of goods sold | $34,000 |
| Variable selling | $3,400 |
| Variable administrative | $3,200 |
| Fixed costs: | |
| Fixed selling | $2,500 |
| Fixed administrative | $1,500 |
If your formulas are correct, you should get the correct answers to the following questions.
(a) What is the gross margin now?
(b) What is the net operating income now?
(c) What is the contribution margin now?
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