Chapter 1: Applying Excel: Exercise (Part 2 of 2) 1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: A Chapter 1: Applying Excel 1 2 3 Data 4 Sales 88,000 Variable costs: 6 Cost of goods sold $ 44,000 7 Variable selling $ 4,400 Variable administrative 8 4,200 Fixed costs 9 r d nlin 1.0 Required information 9 Fixed costs 10 Fixed selling 2,500 11 Fixed administrative 1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? Gross margin Required information (b) What is the net operating income now? Net operating income (c) What is the contribution margin now? Contribution margin Prev of 2 Next