PLEASE HELP

Required information Chapter 1: Applying Excel 1451 Step 1: Download the Applying Excel form located on the left-hand side under files. If you have trouble the file is also located in D2, under Course Administration Step 2: Then enter formules in all cells that contain question marks. For example, in cel C18 enter the formula *= 36" Step 3: Check your worksheet by changing the variable selling cost in the Dota area to $900, keeping all of the other data the same. If your worksheet is operating properly, the net operating Income under the traditional format income statement and under the contribution format Income statement should now be $200 and the contribution margin should now be 54.700. W you do not get these antwers, find the errors in your worksheet and correct them Step 4: Proceed to the requirements below only after completing your worksheet os it will be used to answer the following question Pok les ht 1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this. rences B $ 26.000 1 Chapter 1: Applying Excel . 2 3 Data 4 Sales 5 Variable costs 6 Cost of goods sold 7 Variable selling 8 Variable administrative Fored costs 10 Fived selling 11 Fixed administrative $ 5 13.000 1.300 1.100 5 $ 2500 1,500 If your formulas are correct, you should get the correct answers to the following questions 0-14:32 (a) What is the gross margin now? Gross margin bok 0 es rint (b) What is the net operating income now? Net operating income kences (c) What is the contribution margin now? ho Contribution margin Required information 2 Suppose that sales are 7% higher as shown below 14.17 B 1 Chapter 1: Applying Excel 2 ok un A $ 27,820 $ 3 Data 4 Sales 5 Variable costs 6 Cost of goods sold 7 Variable selling Variable administrative Fixed costs 10 Fixed selling 11 Fixed administrative 5 13,910 1,391 1,177 DO $ ht 5 2,500 1,500 $ Ences Enter this new data into your worksheet. Make sure you enter all of the new data - not just the sales (a) What is the gross margin now? Gross margin Enter this new data into your worksheet. Make sure you enter all of the new data not just the sales fa) What is the gross margin now? 07:59 Gross margin pok (b) What is the net operating income now? Net operating income ences (c) What is the contribution margin now? Contribution margin (a) When sales increase by 7%, which of the following should also increase by 7% in a rierchandising company? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded os incorrect) (a) When sales increase by 7%, which of the following should also increase by 7% in a merchandising company (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded os incorrect.) Variable cont Fored cost Gross margin Contribution margin Net operating income (e) When sales increase by 7%, which of the following should increase by more than 7% in a merchandising company? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded os incorrect.) Variable co le cont Fived cost 2 Gross margin 2 Contribution margin Net operating income