Weingartner Corporation, a merchandising company, reported sales of 4,800 units for July at a selling price of $269 per unit. The cost of goods sold (all variable) was $114 per unit and the variable selling expense was $6 per unit. The total fixed selling expense was $38,100. The variable administrative expense was $14 per unit and the total fixed administrative expense was $59,900. Required: Prepare a contribution format income statement for July. Prepare a traditional format income statement for July.
Weingartner Corporation, a merchandising company, reported sales of 4,800 units for July at a selling price of $269 per unit. The cost of goods sold (all variable) was $114 per unit and the variable selling expense was $6 per unit. The total fixed selling expense was $38,100. The variable administrative expense was $14 per unit and the total fixed administrative expense was $59,900. Required: Prepare a contribution format income statement for July. Prepare a traditional format income statement for July.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Weingartner Corporation, a merchandising
company, reported sales of 4,800 units for July at
a selling price of $269 per unit. The cost of goods
sold (all variable) was $114 per unit and the
variable selling expense was $6 per unit. The total
fixed selling expense was $38,100. The variable
administrative expense was $14 per unit and the
total fixed administrative expense was $59,900.
Required: Prepare a contribution format income
statement for July. Prepare a traditional format
income statement for July.
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