Net Operating Income Assignment | Top Universities

Chapter 6 Applying Excel (B) i Saved Help Save & Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Rated 1 The Chapter 6 Form worksheet is to be used to create your own worksheet version of the Review Problem in the text 10 2. Change all of the numbers in the data area of your worksheet so that it looks like this: points A B Chapter 6: Applying Excel Data 3 4 Selling price per unit 323 Manufacturing costs: 6 Variable per unit produced: 7 Direct materials 157 8 S Direct labor 55 Variable manufacturing overhead 36 $ 116,000 Fixed manufacturing overhead per year 10 11 Selling and administrative expenses: 12 Variable per unit sold 2 13 53.000 Fixed per year 14 15 Year 1 Year 2 16 Units in beginning inventory 17 Units produced during the year 0 2,900 2,000 18 Units sold during the year 2.400 2.400 MC Graw Prev 1 of 1 Next 1C points If your formulas are correct, you should get the correct answers to the following questions. (a) What is the net operating income (loss) in Year 1 under absorption costing? The answer is complete but not entirely correct. Net operating loss $ 60,000X (b) What is the net operating income (loss) in Year 2 under absorption costing? The answer is complete but not entirely correct. $115,000 X Net operating income 1C (c) What is the net operating income (loss) in Year 1 under variable costing? points Answer is complete but not entirely correct $ 122,200 X Net operating income

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(d) What is the net operating income (loss) in Year 2 under variable costing? the answer is complete but not entirely correct. Net operating income $ 122,200x (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.) 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. 3. Make a note of the absorption costing net operating income (loss) in Year 2 At the end of Year 1, the company's board of directors set a target for Year 2 of net operating income of $50,000 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 4,000 units. (a) Would this change result in a bonus being paid to the CEO? Yes No (b) What is the net operating income (loss) in Year 2 under absorption costing? (b) What is the net operating income (loss) in Year 2 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 2,400 units per year? Yes No. Get Accounting Homework Help Today

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