Retstate the following income statement for a retailer in contribution format, Sales revenue ($ 100 per unit) $70,000 Less cost of golds sold ($58 per unit) 40, 600 Gross Margin $29,400 Less oeprating Costs: Commissions expense ($6 per unit) $4,200 Salaries expense 7,900 Advertising expense 5, 900 Shipping expense ($1 per unit) 700 18700 Operating Income $ 10, 700

Retstate the following income statement for a retailer in contribution format, Sales revenue ($ 100 per unit) $70,000 Less cost of golds sold ($58 per unit) 40, 600 Gross Margin $29,400 Less oeprating Costs: Commissions expense ($6 per unit) $4,200 Salaries expense 7,900 Advertising expense 5, 900 Shipping expense ($1 per unit) 700 18700 Operating Income $ 10, 700

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 70,000 Less cost of goods sold ($58 per unit) 40,600 Gross margin 29,400 Less operating costs: Commissions expense ($6 per unit) $ 4,200 Salaries expense 7,900 Advertising expense 5,900 Shipping expense ($1 per unit) 700 18,700 Operating income $ 10,700 Per Unit select an income statement item $enter a dollar amount $enter a dollar amount select an opening name for section one : select an income statement item $enter a dollar amount enter a dollar amount select an income statement item…
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Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) Less cost of goods sold ($56 per unit) Gross margin Less operating costs: Commissions expense $7 per unit) $ 6.090 Salaries expense Advertising expense Shipping expense ($2 per unit. Operating income 7.800 6.000 $ A S 87.000 48,720 AREN 38,280 21.630 16.650
General accounting
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 300,000 $ Sales Beginning merchandise inventory 20,000 $ 200,000 $ $ $ Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 7,000 ? 12,000 $ 15,000 $ 60,000 $ 18,000 Required: 1. Prepare a contribution format income statement.
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Prepare a contribution format income statement
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 360,000 $ Sales Beginning merchandise inventory 24,000 $ 240,000 12,000 $ $ Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 14,400 $ 18,000 $ $ ? 72,000 $ 21,600 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales?
The MER-92566 merchandising company reported the following information for last year: Amount $. 1,312,000 $ 410 $ 46 $ 18 $ 150,000 $ 105,000 $ 75,000 $ 115,000 $310,000 Sales 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 Ending merchandise inventory Merchandise purchases The MER-92566 company's contribution margin per unit is closest to: (Carry out your calculations up to 2 decimal places) O $392 O $346 O $262 O $364
Starwise Company had the following amounts from its income statement: $100,000 Sales revenue 32,000 Cost of goods sold -fixed 25,000 Cost of goods sold -variable 9,000 Selling expenses - fixed Selling expenses - variable 11,000 Administrative expenses - fixed 12,000 Administrative expenses - variable 8,000 How much is Starwise's contribution margin? $56,000. O$3,000. O $75,000. $43,000.