please answer completely and correctly in text form with all working describe each and every step with explanation computation formula Current Attempt in ProgressRestate the following income statement for a Sunland company in contribution margin format.Sales ($48 per unit)Less cost of goods sold ($33 per unit)Gross marginLess Operating costs:SalariesAdvertisingRentDelivery charges ($2 per unit)Operating incomeSalesLessCost of Goods SoldDelivery ChargesVariable CostTotal Variable CostLessSalariesAdvertisingFixed CostTotal Fixed CostOperating Income$$4,0005804,8001,590$38,16026,23511,92510,970$95540003816026235159010335

The income statement can be prepared using various methods as variable costing and absorption…

Answered: Restate the following income statement…

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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Further info is in the attached images For the Excel part of the question give the solutions in the form of the Excel equations. Please and thank you! :) Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B34 enter the formula "= B9". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text. Check your worksheet by changing the beginning work in process inventory to 100 units, the units started into production during the period to 2,500 units, and the units in ending work in process inventory to 200 units, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the cost per equivalent unit for materials should now be $152.50 and the cost per equivalent unit for conversion should be $145.50. Thank you!
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