1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this:
If your formulas are correct, you should get the correct answers to the following questions.
(a) What is the gross margin now?
(a) What is the gross margin
now?
(b) What is the net operating income now?
(c) What is the contribution margin now?
Homework Answers
Solution a:
Gross margin = Sales - Cost of goods sold = $61,500 - $29,000 = $32,500
Solution b:
Net operating income = Sales - Variable costs + Fixed costs
= $61,500 - ($29,000 + $2,900 + $2,700) - ($2,500 + $1,500) = $22,900
Solution c:
Contribution margin = Sales - Variable costs = $61,500 - ($29,000 + $2,900 + $2,700) = $26,900
Add Answer to:
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4 в 1 Chapter 2: Applying Excel $66,000 3 Data 4 Sales 5 Variable costs: 6 Cost of goods sold 7 Variable selling 8 Variable administrative 9 Fixed costs: 10 Fixed selling 11 Fixed administrative 12 $37,000 $3,700 $3,500 $2,500 $1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? Gross margin (b) What is the net operating income now? Net operating income (c) What is the...
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Download the Applying Excel form and enter formulas in all cells that contain question markS. For example, in cell C18 enter the formulaB6". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts in both the traditional and contribution format income statements match the numbers in Exhibit 1-7 Check your worksheet by changing the variable selling cost in the Data area to $900, keeping all of the other data the same as in...
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