The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown b 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 SententS Amount $1,419,000 $ 430 $.46 $ 18 $ 150,000 $110.00
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- EXERCISE 1-15 Traditional and Contribution Format Income Statements L01-6 The Alpine House, Inc., 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 $150,000 $750 $50 $10 $20,000 $20,000 $30,000 $40,000 $100,000 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?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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement 138 25 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 1 Required 3 Net operating income $ 1,470,000 $ 420 49 $16 $ 135,000 $ 110,000 HON 1.470 000 $ 65,000 $ 115,000 $ 320,000 0Problem 1-19 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 240,000 $ 16,000 Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? Req 1 Complete this question by entering your answers in the tabs below. Req 2 Variable expenses: Fixed expenses: $ 160,000 $8,000…
- Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 $ 16 $2 $3 $ 20,000 $ 14,000 $ 10,000 $ 23,000 $ 87,0002 The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ook int ences 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 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Sales Cost of goods soldNumber of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Complete this question by entering your answers in the tabs below. Selling and administrative expenses: Amount
- Cherokee Incorporated is a merchandiser that provided the following information: Amount 11,000 $ 17 $1 $1 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: $ 18,000 $ 14,000 $ 8,000 $ 25,000 $ 85,000Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Amount 20,000 $ 30 $4 $2 Selling and administrative expenses: $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 0Cherokee Incorporated is a merchandiser that provided the following information: Amount 12,000 $ 17 $2 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement $ 19,000 $ 14,000 $9,000 $ 23,000 $ 86,000 Selling and administrative expenses:
- Cherokee Incorporated is a merchandiser that provided the following information: Amount 14,000 $ 17 $ 1 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: $ 22,000 $ 14,000 $ 10,000 Required 1 $ 24,000 $ 85,000 Required 2 >Cherokee Incorporated is a merchandiser that provided the following information: Amount 13,000 $ 18 $2 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Required 1 Required 2 Variable expenses: Fixed expenses: ✓ ✔ *********---------- ✓$ • 45,000 $ 19,000 $ 16,000 $ 10,000 $ 25,000 $ 87,000 $ 234,000 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement 26,000 x 208,000 x 45,000 0 0Cherokee Incorporated is a merchandiser that provided the following information: Amount 10,000 $ 17 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a traditional income statement. Complete this question by entering your answers in the tabs below. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: $1 $2