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 Answer is not complete. Complete this question by entering your answers in the tabs below. Sales Cost of goods sold Gross margin Selling and administrative expenses: Variable manufacturing overhead Administrative expenses Fixed manufacturing overhead Administrative expenses Required 3 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Net operating income Amount $ 1,353,000 $ 410 $ 48 X S $ 18 $ 130,000 $ 100,000 $ 70,000 $ 105,000 $ 290,000 158,400 X 59,400 130,000 X 100,000 S $ 1,353,000 255,000 1,098,000 447,800 650,200
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 Answer is not complete. Complete this question by entering your answers in the tabs below. Sales Cost of goods sold Gross margin Selling and administrative expenses: Variable manufacturing overhead Administrative expenses Fixed manufacturing overhead Administrative expenses Required 3 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Net operating income Amount $ 1,353,000 $ 410 $ 48 X S $ 18 $ 130,000 $ 100,000 $ 70,000 $ 105,000 $ 290,000 158,400 X 59,400 130,000 X 100,000 S $ 1,353,000 255,000 1,098,000 447,800 650,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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
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
Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required 2
Required 3
Sales
Cost of goods sold
Gross margin
Selling and administrative expenses:
Variable manufacturing overhead
Administrative expenses
Fixed manufacturing overhead
Administrative expenses
Net operating income
Amount
$ 1,353,000
$ 410
$ 48
$18
Prepare a traditional income statement for the quarter ended March 31.
The Alpine House, Incorporated
Traditional Income Statement
X $
$ 130,000
$ 100,000
$ 70,000
$ 105,000
$ 290,000
X
158,400 X
59,400
130,000
100,000
S
S 1,353,000
255,000
1,098,000
447,800
650,200
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