2. Change all of the numbers in the data area of your worksheet so that it looks like this:A1 Chapter 8: Applying Excel23Data4 Selling price per unit5Manufacturing costs:6Variable per unit produced:78910Direct materialsDirect laborVariable manufacturing overheadFixed manufacturing overhead per year11 Selling and administrative expenses:12Variable per unit soldFixed per year131415161718Units in beginning inventoryUnits produced during the yearUnits sold during the yearNet operating income$$$$$BYesO No3991427439170,000Year 1Net operating income3$ 98,000O YesNo03,4002,900If your formulas are correct, you should get the correct answers to the following questions.(a) What is the net operating income (loss) in Year 1 under absorption costing?✔Units were left over from the previous year.CYear 22,5002,9003.Make a note of the absorption costing net operating income (loss) in Year 2.(b) What is the net operating income (loss) in Year 2 under absorption costing?(e) The net operating income (loss) under absorption costing is less than the net operating income (loss) under variable costing in Year2 because: (You may select more than one answer. Single click the box with the question mark to produce a check mark for acorrect answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with aquestion mark will be automatically graded as incorrect.)(b) What is the net operating income (loss) in Year 2 under absorption costing?Net operating income(c) What is the net operating income (loss) in Year 1 under variable costing?✔The cost of goods sold is always less under variable costing than under absorption costing.Sales exceeded production so some of the fixed manufacturing overhead of the period was released from inventories under absorptioncosting.Net operating income(d) What is the net operating income (loss) in Year 2 under variable costing?At the end of Year 1, the company's board of directors set a target for Year 2 of net operating income of $210,000 under absorptioncosting. If this target is met, a hefty bonus would be paid to the CEO of the company. Keeping everything else the same from part (2)above, change the units produced in Year 2 to 5,000 units.(a) Would this change result in a bonus being paid to the CEO?Net operating income(c) Would this doubling of production in Year 2 be in the best interests of the company if sales are expected to continue to be 2,900units per year?

It is the process of making decisions that involve the management of costs in order to achieve…

2. Change all of the numbers in the data area of your worksheet so that it looks like this: 1 Chapter 8: Applying Excel 2 3 Data 4 Selling price per unit 5 Manufacturing costs: 6 7 8 9 Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead $ $ $ $ 399 142 74 39 (b) What is the net operating income (loss) in Year 2 under absorption costing? Net operating income

2. Change all of the numbers in the data area of your worksheet so that it looks like this: 1 Chapter 8: Applying Excel 2 3 Data 4 Selling price per unit 5 Manufacturing costs: 6 7 8 9 Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead $ $ $ $ 399 142 74 39 (b) What is the net operating income (loss) in Year 2 under absorption costing? Net operating income

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 3.4C

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ate dir and th ble for ory, Au ate fix verhea ate dir to ca August 2022 data Work-in-process inventory, August 1, 2022 Direct materials inventory, August 1, 2022 Direct materials purchased Direct materials used Variable manufacturing overhead Total manufacturing overhead Total manufacturing costs incurred during August 2022 Cost of goods manufactured Cost of goods sold Finished goods inventory, August 1, 2022 Print Done 215 75 335 385 265 485 1,610 1,690 1,700 220 X ean thes ust.