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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 Amount $ 1,218,000 $ 428 $48 $15 $ 160,000 $ 120,000 $ 75,000 $ 100,000 $ 300,000 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, 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 Amount $ 1,218,000 $ 428 $48 $15 $ 160,000 $ 120,000 $ 75,000 $ 100,000 $ 300,000 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?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required 1 Required 2 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 Beginning merchandise inventory Ending merchandise inventory Net operating income Required 1 Required 3 Sales Variable expenses: Selling expenses Administrative expenses Variable manufacturing overhead Contribution margin Fixed expenses: Fixed manufacturing overhead Selling expenses Administrative expenses Sinipiets and teavi by enemmy your answers in the love peiuw. Fixed manufacturing overhead Net operating income S Required 1 Required 2 Required 2 Required 3 Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Incorporated Contribution Format Income Statement 294,400 162,000 < Required 1 Required 3 S 1,218,000 375,000 843,000 Complete this question by entering your answers in the tabs below. < Required 2 456,400 Required 2 > What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) ontribution margin per unit Required 3 >
Transcribed Image Text:Required 1 Required 2 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 Beginning merchandise inventory Ending merchandise inventory Net operating income Required 1 Required 3 Sales Variable expenses: Selling expenses Administrative expenses Variable manufacturing overhead Contribution margin Fixed expenses: Fixed manufacturing overhead Selling expenses Administrative expenses Sinipiets and teavi by enemmy your answers in the love peiuw. Fixed manufacturing overhead Net operating income S Required 1 Required 2 Required 2 Required 3 Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Incorporated Contribution Format Income Statement 294,400 162,000 < Required 1 Required 3 S 1,218,000 375,000 843,000 Complete this question by entering your answers in the tabs below. < Required 2 456,400 Required 2 > What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) ontribution margin per unit Required 3 >
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 Amount $ 1,218,000 $ 420 $48 $15 $ 160,000 $ 120,000 $ 75,000 $100,000 $ 300,000 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?
Transcribed Image Text: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 Amount $ 1,218,000 $ 420 $48 $15 $ 160,000 $ 120,000 $ 75,000 $100,000 $ 300,000 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?
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