Chapter 2: Applying Excel Data Sales $12,000 Costs: Direct Materials and Labor $6,000 Variable SG&A $600 Variable Overhead $400 Fixed SG&A $2,500 Fixed Overhead $1,500 Instructions: Enter a formula into each of the cells marked with a "?" below: Exhibit 2-12 Traditional Format Income Statement Sales Cost of goods sold: Direct Materials and Labor Variable Overhead Fixed Overhead Total Cost of Goods Sold: Gross margin SG&A expenses: ? ? ? ? ? Fixed SG&A Variable SG&A Net operating income Contribution Format Income Statement Sales Variable expenses: Direct Materials and Labor Variable Overhead Variable SG&A Contribution margin Fixed expenses: Fixed Overhead Fixed SG&A Net operating income Chapter 2 Form ? ? ? ? ? ? ? ? ? ? ? ? ? ? Please see the Instructions for detailed information on how to do this