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 Required 2 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 3 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement $ 30,000 22,000 Amount $ 150,000 $ 750 $ 50 $ 10 $ 150,000 90,000 60,000 $ $ 20,000 $ 20,000 $ 30,000 $ 40,000 $ 100,000 52,000 8,000 11
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 Required 2 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 3 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement $ 30,000 22,000 Amount $ 150,000 $ 750 $ 50 $ 10 $ 150,000 90,000 60,000 $ $ 20,000 $ 20,000 $ 30,000 $ 40,000 $ 100,000 52,000 8,000 11
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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