Chapter_1_Applying_Excel_Student_Form.xls

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Chapter 1: Applying Excel Data Sales $111,600 Variable costs: Cost of goods sold $76,800 Variable selling $7,680 Variable administrative $7,440 Fixed costs: Fixed selling $2,500 Fixed administrative $1,500 Enter a formula into each of the cells marked with a ? below Exhibit 1-7 Traditional Format Income Statement Sales $ 111,600 Cost of goods sold 76,800 Gross margin 34,800 Selling and administrative expenses: Selling $ 9,180 Administrative 8,940 18,120 Net operating income $ 16,680 Contribution Format Income Statement Sales $ 111,600 Variable expenses: Cost of goods sold $ 76,800 Variable selling 7,680 Variable administration 7,440 91,920 Contribution margin
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