Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 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. $ 450,000 $ 30,000 $ 300,000 $ 15,000 ? $ 18,000 $ 22,500 ? $ 90,000 $ 27,000 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimati operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unit

Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 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. $ 450,000 $ 30,000 $ 300,000 $ 15,000 ? $ 18,000 $ 22,500 ? $ 90,000 $ 27,000 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimati operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unit

Name: SalesBeginning merchandise inventoryPurchasesEnding merchandise inven
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Description: SalesBeginning merchandise inventoryPurchasesEnding merchandise inventoryFixed selling expenseFixed administrative expenseVariable selling expenseVariable administrative expenseContribution marginNet operating incomeRequired:1. Prepare a contributio

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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Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement 138 25 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 1 Required 3 Net operating income $ 1,470,000 $ 420 49 $16 $ 135,000 $ 110,000 HON 1.470 000 $ 65,000 $ 115,000 $ 320,000 0
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Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. I cannot for the life of me figure out the second portion of this.
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Sales Absorption Costing Income Statement Cost of Goods Sold: $ 1662500 Beginning Inventory $ Variable Costs Fixed Cost Less: Ending Inventory Cost of Goods Sold Administrative expense Net Income b. Calculate reported income for the bank. Do not use negative signs with any answers. Variable Costing Income Statement $ Sales Cost of Goods Sold: Beginning Inventory $ Variable Costs Variable cost of goods sold Fixed costs: Administrative Expense Total Fixed Cost Net Income ÷ $
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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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