Chapter 1: Applying Excel Data Sales $12,000 Variable costs: Cost of goods sold $6,000 Variable selling $600 Variable administrative $400 Fixed costs Fixed selling $2,500 Fixed administrative $1,500 2 3 Enter a formula into each of the cells marked with a ? below 4 Exhibit 1-7 15 16 Traditional Format Income Statement 1 1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: rt 4 of 4 B 1 Chapter 1: Applying Excel ats 2 3 4 eBook $ 14,000 5 Print 6 $ $ eferences Data Sales Variable costs Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling Fixed administrative 7 7,000 700 500 8 GA 9 10 A GA 2.500 1.500 11