The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount 1,260, 000 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 %24 450 %24 17 155,000 115,000 60,000 100, 000 320,000 %24 %24 Requlred: 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: Amount 1,260, 000 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 %24 450 %24 17 155,000 115,000 60,000 100, 000 320,000 %24 %24 Requlred: 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?
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
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Problem 4CP: Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and...
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I don’t understand the formulas for these, especially selling expenses and administrative expenses. How do I calculate price per unit?
![The Alpine House, Inc.
Traditional Income Statement
Sales
1,260,000
280,000
24
Cost of goods sold
Gross margin
980,000
Selling and administrative expenses:
Selling expenses
$4
136.150
Administrative expenses
1.815,000
1,951,150
5,750,000
Net operating income
Required 2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F973c4f96-9776-4ea1-aa31-4c6f579f4cb5%2Fe6d1bc64-e113-420d-b10e-41ee95db324e%2F4ym8p8c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Alpine House, Inc.
Traditional Income Statement
Sales
1,260,000
280,000
24
Cost of goods sold
Gross margin
980,000
Selling and administrative expenses:
Selling expenses
$4
136.150
Administrative expenses
1.815,000
1,951,150
5,750,000
Net operating income
Required 2
![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
24
%24
1,260, 000
450
47
17
155,000
115, 000
60, 000
100,000
320, 000
Requlred:
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 traditional income statement for the quarter ended March 31.
The Alpine House, Inc.
Traditional Income Statement
Sales
1 260.0001
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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 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
24
%24
1,260, 000
450
47
17
155,000
115, 000
60, 000
100,000
320, 000
Requlred:
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 traditional income statement for the quarter ended March 31.
The Alpine House, Inc.
Traditional Income Statement
Sales
1 260.0001
< Prev
7 of 10
禪
Next >
o search
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