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26 Milden Company is a merchandiser that plans to sell 23,000 units during the next quarter at a selling price of $51 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of goods sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: Cost Formula $21 per unit sold $171,000 per quarter 6% of sales $42,000 per quarter + $7.00 per unit sold $81,000 per quarter $9,100 per quarter $51,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. . Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin 0

26 Milden Company is a merchandiser that plans to sell 23,000 units during the next quarter at a selling price of $51 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of goods sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: Cost Formula $21 per unit sold $171,000 per quarter 6% of sales $42,000 per quarter + $7.00 per unit sold $81,000 per quarter $9,100 per quarter $51,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. . Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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26 Milden Company is a merchandiser that plans to sell 23,000 units during the next quarter at a selling price of $51 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of goods sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: Cost Formula $21 per unit sold $171,000 per quarter 6% of sales $42,000 per quarter + $7.00 per unit sold $81,000 per quarter $9,100 per quarter $51,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. . Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin 0
Transcribed Image Text:26 Milden Company is a merchandiser that plans to sell 23,000 units during the next quarter at a selling price of $51 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of goods sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: Cost Formula $21 per unit sold $171,000 per quarter 6% of sales $42,000 per quarter + $7.00 per unit sold $81,000 per quarter $9,100 per quarter $51,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. . Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin 0
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