I would like you to help me fill in the blanks. I feel like I have done everything correct. Todrick CompanyContribution Format Income StatementSales$ 435,000Variable expenses:Cost of goods sold$ 304,500Administrative expense21,750Selling expense21,750348,000Contribution margin87,000Fixed expenses:Selling expense$ 43,500Administrative expense17.40060,900Net operating income26,100< Prev4 of 4%24 eck my workshowsIS correct orrect for the work you have completed so far. It does not indicate completion.Return to questionSales$435,000Beginning merchandise inventory2$29, еee$ 290, 00024PurchasesEnding merchandise inventoryFixed selling expenseFixed administrative expenseVariable selling expenseVariable administrative expenseContribution marginNet operating income14,50024241017,40024points21,750%242487,000$26,100Required: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 netoperating income will change in responses to changes in unit sales?Ancwer ie nat comnleteMcGrawHill< Prev4 of 4Next >127 PMP Type here to search(41)75°F CloudyENG9/4/2021..

The income statement is referred to as a statement of operations, a profit and loss statement, or a…

Answered: Sales $ 435,000 Variable expenses: Cost…

Business

Accounting

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

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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