So far, many researches on network coding are performed with higher layer protocols such as MAC, routing, and flow control protocols without consideration of physical layer issues such as channel conditions of links. However, in wireless networks, the consideration of properties at the physical layer is important to improve system performance. Hence, in this paper, we study an opportunistic scheduling and adaptive modulation problem for wireless networks with network coding, which is a joint problem for MAC and physical layers. A similar problem was studied in  considering an idealized system in which the data rate of each link is modeled with the Shannon capacity. They showed that to maximize the throughput of a transmission, the optimal subset of native packets that are encoded within a coded packet should be selected based on the channel condition at the destination for each native packet. Moreover, they also showed that it may not be the optimal selection to encode all possible native packets within a coded packet. In this paper, we consider a more realistic model than that of  with practical modulation schemes such as M-PSK and MQAM. We show that the optimal policy that maximizes the throughput of a transmission is to encode all available native packets within a coded packet regardless of the channel condition at the destination for each native packet, which is a different conclusion from that of . However, we show that adaptive modulation, in which its constellation size in a coded packet is adjusted based on the channel condition of each destination node, provides a higher throughput than the scheme with fixed modulation, in which its constellation size is always fixed regardless of the channel condition at each destination node.