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2 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount $ 1,188,000 $ 440 $ 45 $18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $285,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. or unit? 2 What was the contribution more

2 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount $ 1,188,000 $ 440 $ 45 $18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $285,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. or unit? 2 What was the contribution more

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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2 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Amount $ 1,188,000 $ 440 $45 $18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $285,000 Selling and administrative expenses: Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement < Required 1 0 Required 2 >
Transcribed Image Text:2 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Amount $ 1,188,000 $ 440 $45 $18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $285,000 Selling and administrative expenses: Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement < Required 1 0 Required 2 >
6 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales. Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases. Required 1 Required 2 Required 3 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs below. Variable expenses: Fixed expenses: Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Incorporated Contribution Format Income Statement Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases < Required 1 Amount $ 1,188,000 $ 440 Exercise 1-15 (Algo) Traditional and Contribution Format Income Statements [LO1-6] The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Required 1. Required 2 $45 $18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $ 285,000 Required 3 Contribution margin per unit 0 < Required 2 Required 3 > Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs below. Amount $ 1,188,000 $ 440 $45 18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $285,000 What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) Required 3 >
Transcribed Image Text:6 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales. Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases. Required 1 Required 2 Required 3 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs below. Variable expenses: Fixed expenses: Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Incorporated Contribution Format Income Statement Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases < Required 1 Amount $ 1,188,000 $ 440 Exercise 1-15 (Algo) Traditional and Contribution Format Income Statements [LO1-6] The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Required 1. Required 2 $45 $18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $ 285,000 Required 3 Contribution margin per unit 0 < Required 2 Required 3 > Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs below. Amount $ 1,188,000 $ 440 $45 18 $ 140,000 $ 130,000 $ 65,000 $ 110,000 $285,000 What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) Required 3 >
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