6 Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6] 16.66 points Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 10,000 eBook Hint Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory $ 16 $ 1 $ 1 $ 20,000 $ 15,000 $ 9,000 Ending merchandise inventory Merchandise purchases $ 24,000 $ 89,000 Print O Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses:
6 Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6] 16.66 points Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 10,000 eBook Hint Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory $ 16 $ 1 $ 1 $ 20,000 $ 15,000 $ 9,000 Ending merchandise inventory Merchandise purchases $ 24,000 $ 89,000 Print O Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![6
Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6]
16.66
points
Cherokee Incorporated is a merchandiser that provided the following information:
Amount
Number of units sold
10,000
eBook
Hint
Selling price per unit
Variable selling expense per unit
Variable administrative expense per unit
Total fixed selling expense
Total fixed administrative expense
Beginning merchandise inventory
$ 16
$ 1
$ 1
$ 20,000
$ 15,000
$ 9,000
Ending merchandise inventory
Merchandise purchases
$ 24,000
$ 89,000
Print
O
Required:
1. Prepare a traditional income statement.
2. Prepare a contribution format income statement.
References
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare a traditional income statement.
Cherokee, Incorporated
Traditional Income Statement
Selling and administrative expenses:
<Requered.
0
Required 2 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc1e181ce-bdb0-48a1-932f-2193476b3eae%2Fb3f88f40-39f7-4e1f-9879-583a953acb00%2F1ma7xzc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:6
Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6]
16.66
points
Cherokee Incorporated is a merchandiser that provided the following information:
Amount
Number of units sold
10,000
eBook
Hint
Selling price per unit
Variable selling expense per unit
Variable administrative expense per unit
Total fixed selling expense
Total fixed administrative expense
Beginning merchandise inventory
$ 16
$ 1
$ 1
$ 20,000
$ 15,000
$ 9,000
Ending merchandise inventory
Merchandise purchases
$ 24,000
$ 89,000
Print
O
Required:
1. Prepare a traditional income statement.
2. Prepare a contribution format income statement.
References
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare a traditional income statement.
Cherokee, Incorporated
Traditional Income Statement
Selling and administrative expenses:
<Requered.
0
Required 2 >
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