Chapter 6: Applying Excel Data Selling price per unit Manufacturing costs: Variable per unit produced: $50 Direct materials $11 Direct labor $6 $3 Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: $120,000 Variable per unit sold $4 Fixed per year $70,000 Year 1 Year 2 Units in beginning inventory Units produced during the year Units sold during the year 10,000 8,000 6,000 8,000 Enter a formula into each of the cells marked with a ? below Review Problem 1: Contrasting Variable and Absorption Costing Compute the Ending Inventory Year 1 Year 2 Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory ? ? Compute the Absorption Costing Unit Product Cost Year 1 Year 2 Direct materials ? ? Direct labor Variable manufacturing overhead Fixed manufacturing overhead Absorption costing unit product cost Construct the Absorption Costing Income Statement Year 1 Year 2 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income ? ? ? ? ? Compute the Variable Costing Unit Product Cost Year 1 Year 2 Direct materials Direct labor Variable manufacturing overhead Variable costing unit product cost ? ? ? Construct the Variable Costing Income Statement Year 1 Year 2 Sales Variable expenses: Variable cost of goods sold Variable selling and administrative expenses Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses Net operating income ? ? ? ? ? ? ? ?
Chapter 6: Applying Excel Data Selling price per unit Manufacturing costs: Variable per unit produced: $50 Direct materials $11 Direct labor $6 $3 Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: $120,000 Variable per unit sold $4 Fixed per year $70,000 Year 1 Year 2 Units in beginning inventory Units produced during the year Units sold during the year 10,000 8,000 6,000 8,000 Enter a formula into each of the cells marked with a ? below Review Problem 1: Contrasting Variable and Absorption Costing Compute the Ending Inventory Year 1 Year 2 Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory ? ? Compute the Absorption Costing Unit Product Cost Year 1 Year 2 Direct materials ? ? Direct labor Variable manufacturing overhead Fixed manufacturing overhead Absorption costing unit product cost Construct the Absorption Costing Income Statement Year 1 Year 2 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income ? ? ? ? ? Compute the Variable Costing Unit Product Cost Year 1 Year 2 Direct materials Direct labor Variable manufacturing overhead Variable costing unit product cost ? ? ? Construct the Variable Costing Income Statement Year 1 Year 2 Sales Variable expenses: Variable cost of goods sold Variable selling and administrative expenses Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses Net operating income ? ? ? ? ? ? ? ?
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter27: Lean Principles, Lean Accounting, And Activity Analysis
Section: Chapter Questions
Problem 27.20EX
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Please include the excel formulas as well. Thanks! :)
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