The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: AmountSales$ 1,271,000Selling price per pair of skis$ 410Variable selling expense per pair of skis$ 46Variable administrative expense per pair of skis$ 15Total fixed selling expense$ 140,000Total fixed administrative expense$ 100,000Beginning merchandise inventory$ 75,000Ending merchandise inventory$ 110,000Merchandise purchases$ 285,000 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? 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 3Prepare a contribution format income statement for the quarter ended March 31.The Alpine House, IncorporatedContribution Format Income StatementVariable expenses:Fixed expenses:< Required 100Required 3 > 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 2Required 3Prepare a traditional income statement for the quarter ended March 31.The Alpine House, IncorporatedTraditional Income StatementSalesCost of goods soldGross marginSelling and administrative expenses:Selling expensesAdministrative expensesNet operating income< Required 1$1,271,0000Required 2 >

The Business organizations compile income statements in order to determine how much gross profit or…

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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 company assembled the information shown below for the quarter ended March 31:

	Amount
Sales	$ 1,271,000
Selling price per pair of skis	$ 410
Variable selling expense per pair of skis	$ 46
Variable administrative expense per pair of skis	$ 15
Total fixed selling expense	$ 140,000
Total fixed administrative expense	$ 100,000
Beginning merchandise inventory	$ 75,000
Ending merchandise inventory	$ 110,000
Merchandise purchases	$ 285,000

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?

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:
Fixed expenses:
< Required 1
0
0
Required 3 >

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