The Alpine House, Ic., is a large retaller of snow skis. The company assembled the information shown below for the quarter endedMarch 31:Amount946,000SalesSelling price per pair of skisVariable selling expense per pair of skisVariable administrative expense per pair of skisTotal fixed selling expenseTotal fixed administrative expenseBeginning merchandise inventoryEnding merchandise inventoryMerchandise purchases430491924150,000105,0002470,000110,00024305,000Requlred: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 1Required 2Required 3Prepare a traditional income statement for the quarter ended March 31.The Alpine House, Inc.Traditional Income StatementSelling and administrative expenses:Required 1Required 2 >

The question is based on the concept of Cost accounting.

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the linformation shown below for the quarter ended March 31: Amount Sales 946,000 430 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 49 19 150,000 105,000 70,000 $ 110,000 $ 305,000 Merchandise purchases 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 linformation shown below for the quarter ended March 31: Amount Sales 946,000 430 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 49 19 150,000 105,000 70,000 $ 110,000 $ 305,000 Merchandise purchases 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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The Alpine House, Incorporated, is a large retailer of snow skis. The compa 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 $ 1,530,000 $ 450 $ 49 $ 19 $ 140,000 $ 125,000 $ 70,000 $ 110,000 $ 315,000 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 traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Selling and administrative expenses: Required t Required 2 >
SGBFQA467 Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month: Total sales revenue $300,000 Selling price per pair of gloves $1,000 (ID#20403) Variable selling expense per pair of gloves $124 Variable administrative expense per pair of gloves $37 Total fixed selling expense $79,000 Total fixed administrative expense $92,000 Beginning merchandise inventory $40,000 Ending merchandise inventory $20,000 Merchandise purchases $130,000 Q: What was SGBFQA467's contribution margin for each pair of gloves sold during the month? A: $
The Alpine House, Incorporated, 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. 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 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Amount $984,000 $ 410 $ 48 $ 17 $ 155,000 $ 110,000 What was the contribution margin per unit? Note: Round your final answer to nearest whole dollar. Contribution margin per unit $ 75,000 $ 120,000 $285,000
The Alpine House, Incorporated, 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. 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, Incorporated Contribution Format Income Statement Variable expenses: Amount $ 1,302,000 $ 420 $45 $ 20 $ 130,000 $ 100,000 $75,000 $ 115,000 $ 285,000 Fixed expenses: 0…
6. Required information Skip to question [The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 4,000 10 40,000 Totals 7,000 67,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.)
Streif Incorporated, a local retailer, has provided the following data for the month of June: Merchandise inventory, beginning balance $ 46,000 Merchandise inventory, ending balance $ 52,000 Sales $ 260,000 Purchases of merchandise inventory $ 128,000 Selling expense $ 13,000 Administrative expense $ 40,000 The cost of goods sold for June was: a)128,000 b)181,000 c)122,000 d)134,000
3. Required information Skip to question [The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 4,000 10 40,000 Totals 7,000 67,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month.
5. Required information Skip to question [The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 4,000 10 40,000 Totals 7,000 67,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month.
Subject: acounting
Solve questions 7,9,10 with steps please.
The Alpine House, Incorporated, 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. 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 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating…
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