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 $ 1,290,000 $430 $45 $ 16 $ 145,000 $ 120,000 $ 70,000 $ 105,000 $ 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 $ 1,290,000 $430 $45 $ 16 $ 145,000 $ 120,000 $ 70,000 $ 105,000 $ 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?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter27: Adjustments, Financial Statements, And Year-end Accounting For A Manufacturing
business
Section: Chapter Questions
Problem 1MP: Reese Manufacturing Company manufactures and sells a limited line of products made to customer...
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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
Required 1 Required 2 Required 3
Amount
$ 1,290,000
$ 430
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?
Selling and administrative expenses:
$45
$16
$ 145,000
$ 120,000
$ 70,000
Complete this question by entering your answers in the tabs below.
< Required 1
$ 105,000
$ 300,000
Prepare a traditional income statement for the quarter ended March 31.
The Alpine House, Incorporated
Traditional Income Statement
Required 2 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd240bb86-f2ee-4b1c-ba88-25d08a450fb4%2Fb3c61d55-3b51-441a-8251-7bea55dc7f58%2F4ysn77_processed.png&w=3840&q=75)
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 Required 2 Required 3
Amount
$ 1,290,000
$ 430
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?
Selling and administrative expenses:
$45
$16
$ 145,000
$ 120,000
$ 70,000
Complete this question by entering your answers in the tabs below.
< Required 1
$ 105,000
$ 300,000
Prepare a traditional income statement for the quarter ended March 31.
The Alpine House, Incorporated
Traditional Income Statement
Required 2 >
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