Variable and Absorption Costing using Excel's SUM and Basic Math Functions

Addison, Inc. makes a single product, an indoor fireplace, and has provided data from last year of operations. The Controller has asked you to compare income statements if the company used the variable costing approach vs$.$ the absorption costing report. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, $"=$B$3"$ was entered, the formula would output the result from cell B$3,$ or $420$ in this example.

Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following key