Please do not give solution in image format thanku The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarterended March 31:SalesSelling price per pair of skinVariable selling expense per pair of akisVariable administrative expense per pair of skisTotal fixed selling expenseTotal fixed administrative expenseBeginning merchandise inventoryEnding merchandise inventoryMerchandise purchasesAmount$ 1,160,000$ 400$ 47$ 20$ 145,000$ 105,000$ 65,000$ 115,000$ 290,000Required: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 2Prepare 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 incomeRequired 1 Required 2Required 3SalesVariable expenses:Cost of goods soldSelling expensesAdministrative expensesContribution marginFixed expenses: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?Selling expensesAdministrative expensesComplete this question by entering your answers in the tabs below.Net operating income$ (147,947)(163,000)Required 3.Prepare a contribution format income statement for the quarter ended March 31.The Alpine House, IncorporatedContribution Format Income Statement< Required 1$$Required 1 Required 2 Required 31,160,000240,000920,000(310,947)609,053What was the contribution margin per unit?Note: Round your final answer to nearest whole dollarContribution margin per unitRequired 2 >< Required 201. 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?0Complete this question by entering your answers in the tabs below.Required 3 >

Name: Please do not give solution in image format thanku The Alpine House, I
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Description: Please do not give solution in image format thanku The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarterended March 31:SalesSelling price per pair of skinVariable selling e

The income statement is an essential part of the financial statements of the company. It Indicates…

Business

Accounting

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 $ 1,160,000 $ 400 $ 47 $ 20 $ 145,000 $ 105,000 $ 65,000 $ 115,000 $ 290,000 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 $ 1,160,000 $ 400 $ 47 $ 20 $ 145,000 $ 105,000 $ 65,000 $ 115,000 $ 290,000 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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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