Chapter 1: Applying Excel
Data
Sales	$18,000
Variable costs:
Cost of goods sold	$9,000
Variable selling	$900
Variable administrative	$700
Fixed costs:
Fixed selling	$2,500
Fixed administrative	$1,500
Required 1: Enter a formula into each of the cells marked with a ? below
Traditional Format Income Statement
Sales		$ 18,000
Cost of goods sold		9,000
Gross margin		9,000
Selling and administrative expenses:
Selling	$900
Administrative		700
Net operating income		$ 8,300
Contribution Format Income Statement
Sales		$ 18,000
Variable expenses:
Cost of goods sold	$ 9,000
Variable selling	900
Variable administration	700	700
Contribution margin		10,600
Fixed expenses:
Fixed selling	2,500
Fixed administrative	1,500	1,500
Net operating income