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Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750 Selling expense 21,750

Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750 Selling expense 21,750

FINANCIAL ACCOUNTING
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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Todrick Company Contribution Format Income Statement Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750 Selling expense 21,750 348,000 Contribution margin 87,000 Fixed expenses: Selling expense $ 43,500 Administrative expense 17.400 60,900 Net operating income 26,100 < Prev 4 of 4 %24
Transcribed Image Text:Todrick Company Contribution Format Income Statement Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750 Selling expense 21,750 348,000 Contribution margin 87,000 Fixed expenses: Selling expense $ 43,500 Administrative expense 17.400 60,900 Net operating income 26,100 < Prev 4 of 4 %24
eck my work shows IS correct or rect for the work you have completed so far. It does not indicate completion. Return to question Sales $435,000 Beginning merchandise inventory 2$ 29, еee $ 290, 000 24 Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 14,500 24 24 10 17,400 24 points 21,750 %24 24 87,000 $ 26,100 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? Ancwer ie nat comnlete Mc Graw Hill < Prev 4 of 4 Next > 127 PM P Type here to search (41) 75°F Cloudy ENG 9/4/2021 ..
Transcribed Image Text:eck my work shows IS correct or rect for the work you have completed so far. It does not indicate completion. Return to question Sales $435,000 Beginning merchandise inventory 2$ 29, еee $ 290, 000 24 Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 14,500 24 24 10 17,400 24 points 21,750 %24 24 87,000 $ 26,100 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? Ancwer ie nat comnlete Mc Graw Hill < Prev 4 of 4 Next > 127 PM P Type here to search (41) 75°F Cloudy ENG 9/4/2021 ..
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