Question

AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) "A Insert 11 = = Σν ab Wrap Text Custom 48- 0 DX Delete Paste B I U Av * Merge & Center C%) Ideas Cell Styles Conditional Format Formatting as Table Sensitivity Sort & Filter A Format Find & Select G16 fx A B с D E F G 1 2 Account 3 Equipment depreciation: Molding 4 Equipment depreciation: Fabrication 5 Equipment depreciation: Assembly 6 Equipment depreciation: Materials Handling 7 Equipment depreciation: Other 8 Production suprvision: Molding 9 Production supervision: Fabrication 10 Production supervision: Assembly 11 Indirect labor: Maintenance & Repairs 12 Indirect labor: Materials Handling 13 Indirect labor: Engineering 14 Indirect labor: Raw Materials Purchasing 15 Indirect labor: Quality Control 16 Indirect labor: Packaging & Shipping 17 Indirect materials: Molding 18 Indirect materials: Fabrication 19 Indirect materials: Assembly 20 Utilities: Molding 21 Utilities: Fabrication 22 Utilities: Assembly 23 tilties: Plant lighting and other pruinment Pivot Table Charts SumIF Sheet1 Cost Classifications: Manufacturing / Amount Product / Period Nonmanufacturing $ 400,000 Product MOH $ 300,000 Product MOH $ 50,000 Product MOH $ 15,000 Product MOH $ 10,000 Product MOH $ 60,000 Product MOH $ 65,000 Product MOH $ 58,000 Product MOH $ 72,000 Product MOH $ 68,000 Product MOH $ 170,000 Product MOH $ 93,000 Product MOH $ 38,000 Product MOH $ 99,000 Product MOH $ 18,000 Product MOH $ 13,000 Product MOH $ 8,000 Product MOH $ 24,000 Product MOH $ 20,000 Product MOH $ 6,000 Product MOH 12 000 Product MOH Cost Summary Income Statements + Fixed / Variable Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Variable Variable Variable Variable Variable Variable Fixed Sheet2 Ready + 173%

Answer 1

Traditional Format Income Statement :-

Sales $8,000,000

(-) Cost of Goods sold

(All product costs are added) ($5,974,000)

Gross Margin $2,026,000

Selling & Administration Exp:

Selling $1,000,000 (Total of variable & fixed) Administration $216,000 (Total of variable & fixed)

Total Selling & Admin. Exp ($1,216,000)

Net Operating Income $810,000

Cost of Goods sold is $5,974,000

Gross Margin is $2,026,000

Total Selling & Admin.Expenses is $1,216,000