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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended June 30: 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 2a. Prepare a traditional income statement The Alpine House, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income $2,00,000.0 $800.0 $100.0 $20.0 $25,000.0 $15,000.0 $25,000.0 $30,000.0 $1,00,000.0 $2,00,000 $95,000 $1,99,953 $50,000 $35,000 $20,000 no of units sold- 250

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended June 30: 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 2a. Prepare a traditional income statement The Alpine House, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income $2,00,000.0 $800.0 $100.0 $20.0 $25,000.0 $15,000.0 $25,000.0 $30,000.0 $1,00,000.0 $2,00,000 $95,000 $1,99,953 $50,000 $35,000 $20,000 no of units sold- 250

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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2b. Prepare a contribution format income statement. The Alpine House, Inc. Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed expenses: Selling expense Administrative expense Net operating income $2,00,000 $95,000
Transcribed Image Text:2b. Prepare a contribution format income statement. The Alpine House, Inc. Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed expenses: Selling expense Administrative expense Net operating income $2,00,000 $95,000
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended June 30: 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 2a. Prepare a traditional income statement The Alpine House, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income ✪ $2,00,000.0 $800.0 $100.0 $20.0 $25,000.0 $15,000.0 $25,000.0 $30,000.0 $1,00,000.0 $2,00,000 $95,000 $1,99,953 $50,000 $35,000 $20,000 no of units sold- 250
Transcribed Image Text:The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended June 30: 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 2a. Prepare a traditional income statement The Alpine House, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income ✪ $2,00,000.0 $800.0 $100.0 $20.0 $25,000.0 $15,000.0 $25,000.0 $30,000.0 $1,00,000.0 $2,00,000 $95,000 $1,99,953 $50,000 $35,000 $20,000 no of units sold- 250
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