Chapter 6 Applying Excel (A)i Saved Help Sa Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion 2 The Chapter 6 Form worksheet is to be used to create your own worksheet version of the Review Problem in text 2. Change all of the numbers in the data area of your worksheet so that it looks like this: Part 2 of 2 A B C 10 1 Chapter 6: Applying Excel points 2 Data 4 Selling price per unit 377 Manufacturing costs: 5 6 Variable per unit produced: Direct materials 7 144 8 Direct labor 62 Variable manufacturing overhead 9 S 37 S 160,000 10 Fixed manufacturing overhead per year Selling and administrative expenses: 11 12 Variable per unit sold S 4 Fixed per year 13 S 83,000 14 Year 2 15 Year Units in beginning inventory 16 17 Units produced during the year 3,200 2,500 18 Units sold during the year 2,800 2,800 Part 2 of 2 If your formulas are correct, you should get the correct answers to the following questions. 10 (a) What is the net operating income (loss) in Year 1 under absorption costing? points Answer is complete and correct $ 141,000 Net operating income
(b) What is the net operating income (loss) in Year 2 under absorption costing? The answer is complete but not entirely correct. $107,400(X Net operating income Part 2 of 2 (c) What is the net operating income (loss) in Year 1 under variable costing? ) pints Answer is complete and correct. $ 121,000 Net operating income (d) What is the net operating income (loss) in Year 2 under variable costing? The answer is complete and correct. $ 121,000 Net operating income eBook (e) The net operating income (loss) under absorption costing is less than the net operating income (loss) under variable costing in Year 2 because: (You may select more than one answer. Single-click the box with the question mark to produce a checkmark 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 as incorrect.) Print References Units were leftover from the previous year. The cost of goods sold is always less under variable costing than under absorption costing. Sales exceeded production so some of the fixed manufacturing overhead of the period was released from inventories under absorption costing. O 3 1C Make a note of the absorption costing net operating income (loss) in Year 2. points At the end of Year 1, the company's board of directors set a target for Year 2 of net operating income of $190,000 under absorption costing. If this target is met, a hefty bonus would be paid to the CEO of the company. Keeping everything else the same from part (2) above, change the units produced in Year 2 to 5,000 units. eBook Print (a) Would this change result in a bonus being paid to the CEO? References Yes ONo (b) What is the net operating income (loss) in Year under absorption costing? (c) Would this doubling of production in Year 2 be in the best interests of the company if sales are expected to continue to be 2,800 units per year? Yes No. Get Accounting Homework Help Today
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