Addison, Incorporated makes a single product, an indoor fireplace, and has provided data from last year of operations. The Controller has asked you to compare income statements if the company used the variable costing approach vs. the absorption costing report. Here are some tips for using Excel:

• Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered =B5 into a blank cell, the formula would output the value from cell B5.
• Basic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract), * (asterisk sign to multiply), and / (forward slash to divide). For example, if you entered =B4+B5 in a blank cell, the formula would add the values from those cells and output the result.
• SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered =SUM(C4,C5,C6) into a blank cell, the formula would output the result of adding those three separate cells. Similarly, if you entered =SUM(C4:C6), the formula would output the same result of adding those cells.

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