Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 85,000 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales $176,000 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income
Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 85,000 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales $176,000 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
ChapterCSR: Contents Of Student Resources
Section: Chapter Questions
Problem 7.29EP
Related questions
Question
100%
Cherokee Incorporated is a merchandiser that provided the following information:
Amount | |
---|---|
Number of units sold | 11,000 |
Selling price per unit | $ 16 |
Variable selling expense per unit | $ 1 |
Variable administrative expense per unit | $ 2 |
Total fixed selling expense | $ 21,000 |
Total fixed administrative expense | $ 16,000 |
Beginning merchandise inventory | $ 11,000 |
Ending merchandise inventory | $ 23,000 |
Merchandise purchases | $ 85,000 |
Complete this question by entering your answers in the tabs below.
Prepare a traditional income statement.
|
|
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