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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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