MS Pioyect v Alexandra L File Home Insert Draw Page Layout Formulas Data Review View Help 5' Comments a Share C33 ' E '7: t/ fx v A A i B c D I E , F G H I J A 37 4 A. Calculate the missing amounts in MVP's Income Statement presented for nancial reporting purposes below: 5: MVP, Inc. 6* Income Statement 7 For the Year Ended December 31, 2021 87 Sales 5 375,000 97 Cost of Goods Sold: 10# Direct Materials (variable) 100,000 1L Direct Labor (variable) 21,600 1; Manufacturing Overhead ($40,000 is fixed) 92,000 13 Cost of Goods Sold 213,600 ii Gross Profit 161,400 =SU M(D8-D13) 11 Operating Expenses: 16* Sales Commissions (variable) 12,500 11 Shipping (variable) 2,500 187 Advertising (fixed) 10,800 197 Billing (of which $10,000 is fixed) 10,250 20! Sales and Administrative Salaries (fixed) 97,200 2L Total Operating Expenses 133,250 227 Operating Income (Loss) 5 28,150 =SUM(D14-D21) 2; 247 Additional information: 25 Sales Price per unit: $15.00 26 Plant capacity (relevant range) is 60,000 units per year 27 All variable expenses in the company vary in terms of units sold 28' There was no change in inventory levels between the beginning and end of the year 29 32 B. Using the information above, calculate the missing amounts below: 31 a. Units of product MVP sold in 2021: 25,000 =SUM(08/C25) 32 Variable cost per unit for the following mixed costs: 33 b. Variable Manufacturing Overhead per unit: n/a 347 c. Variable Billing per unit: n/a 35g 32 C. Using MVP's 2021 income statement above, prepare a contribution margin income statement below (all amounts should be a formula/link to the information provided above): 3L Total Amount 38 Total Units Per Unit n/a 3: Sales n/a n/a 42 Variable Costs: 417 Direct Materials n/a n/a 427 Direct Labor n/a n/a 437 Variable Manufacturing Overhead n/a n/a AIL e rnmmiuin I31: n]: ' I I I Instructions MS Project @ E 4 r Ready Extend Selection /0 Type here to search