Data Selling price per unit Manufacturing costs: Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable per unit sold Fixed per year Units in beginning inventory Units produced during the year Units sold during the year $50 $11 $6 $3 $120,000 $4 $70,000 Year 1 Year 2 0 10,000 6,000 8,000 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 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 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Year 1 Year 2 0 2,000 10,000 6,000 8,000 8,000 2,000 Year 1 Year 2 $11 $11 6 6 3 3 12 20 $32 $40 Absorption costing unit product cost Construct the Absorption Costing Income Statement Sales Cost of goods sold Gross margin Seling and administrative expenses Net operating income 4 Compute the Variable Costing Unit Product Cost 47 Drect materials 49 Drect labor 50 Vatable manufacturing overhead Vanable costing une product cost 53 Construct the Variable Costing Income Statement Year 2 $ 400,000 304,000 96,000 102,000 Year 1 $ 400.000 250.000 144,000 102,000 43.000 C Year 1 Year 2 $11 $11 6 520 $20 w Year 55 Sales $400,000 Year 2 $400,000 56 Variable expenses 57 Vanable cost of goods sod $160,000 5 Vanable selling and adminstrative expenses 32.000 $160,000 32,000 5 Contibution margin 208.000 200.000 60 Fed expenses 41 Fixed manufacturing overhead 120,000 42 Fixed seling and adminstrative expenses 70,000 120,000 70,000 63 Net operating income 18.000 18,000 2. Change all of the numbers in the data area of your worksneet so that it looks sxe A Chapter 6: Applying Excel B C