Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at a selling price of $61 per unit. The company also gathered the following cost estimates for the next quarter: Cont Cost of good wold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $ 31 per unit sold $ 181,000 per quarter. 61 of sales $ 63,000 per quartor+ $4.00 por unit sold $ 91,000 per quarter $ 10,100 per quarter $ 61,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.
Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at a selling price of $61 per unit. The company also gathered the following cost estimates for the next quarter: Cont Cost of good wold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $ 31 per unit sold $ 181,000 per quarter. 61 of sales $ 63,000 per quartor+ $4.00 por unit sold $ 91,000 per quarter $ 10,100 per quarter $ 61,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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