The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: 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 Amount $1,118,000 $ $ $ $ $ $ $ $ 430 46 16 135,000 110,000 70,000 120,000 295,000 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?
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: 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 Amount $1,118,000 $ $ $ $ $ $ $ $ 430 46 16 135,000 110,000 70,000 120,000 295,000 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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 1-15 Traditional and Contribution Format Income Statements [LO1-6]
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended
March 31:
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
Amount
$1,118,000
$
$
Selling and administrative expenses:
$
$
$
$
$
$
430
46
16
135,000
110,000
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 2 Required 3
Prepare a traditional income statement for the quarter ended March 31.
The Alpine House, Inc.
Traditional Income Statement
70,000
120,000
295,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe15b8af0-27e1-4c12-b293-7f8d2f41b828%2Fc280e84e-2557-4a99-a417-51ea877b295d%2F6y2o4ya_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 1-15 Traditional and Contribution Format Income Statements [LO1-6]
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended
March 31:
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
Amount
$1,118,000
$
$
Selling and administrative expenses:
$
$
$
$
$
$
430
46
16
135,000
110,000
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 2 Required 3
Prepare a traditional income statement for the quarter ended March 31.
The Alpine House, Inc.
Traditional Income Statement
70,000
120,000
295,000
![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 Required 3
Prepare a contribution format income statement for the quarter ended March 31.
The Alpine House, Inc.
Contribution Format Income Statement
Variable expenses:
Fixed expenses:
< Required 1
Exercise 1-15 Traditional and Contribution Format Income Statements [LO1-6]
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended
March 31:
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 Required 2
Required 3
Required 3 >
Amount
$1,118,000
$
S
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?
< Required 2
430
46
16
Complete this question by entering your answers in the tabs below.
$
S 135,000
$
110,000
70,000
$
120,000
$ 295,000
What was the contribution margin per unit? (Round your final answer to nearest whole dollar.)
Contribution margin per unit
Required 3 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe15b8af0-27e1-4c12-b293-7f8d2f41b828%2Fc280e84e-2557-4a99-a417-51ea877b295d%2Fyzcrslg_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 Required 3
Prepare a contribution format income statement for the quarter ended March 31.
The Alpine House, Inc.
Contribution Format Income Statement
Variable expenses:
Fixed expenses:
< Required 1
Exercise 1-15 Traditional and Contribution Format Income Statements [LO1-6]
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended
March 31:
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 Required 2
Required 3
Required 3 >
Amount
$1,118,000
$
S
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?
< Required 2
430
46
16
Complete this question by entering your answers in the tabs below.
$
S 135,000
$
110,000
70,000
$
120,000
$ 295,000
What was the contribution margin per unit? (Round your final answer to nearest whole dollar.)
Contribution margin per unit
Required 3 >
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