Zabeer Company is a large retailer of custom-built air conditioning units for commercial  buildings. The company assembled the information shown below for the quarter ended  March 31:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Zabeer Company is a large retailer of custom-built air conditioning units for commercial 
buildings. The company assembled the information shown below for the quarter ended 
March 31:
Total sales revenue Tk.6,00,000
Selling price per unit Tk.450 
Variable selling expense per unit Tk.45
Variable administrative selling expense per unit Tk.30
Total fixed selling expense Tk.170,000
Total fixed administrative expense Tk.130,000
Merchandise inventory, opening balance Tk.60,000
Merchandise inventory, ending balance Tk.1,10,000
Merchandise purchase Tk.2,40,000
Required: 
i. Prepare a traditional format income statement for the quarter ended March 31. 
ii. Prepare a contribution format income statement for the quarter ended March 31. 

. Zabeer Company is a large retailer of custom-built air conditioning units for commercial
buildings. The company assembled the information shown below for the quarter ended
March 31:
Total sales revenue
Selling price per unit
Variable selling expense per unit
|Variable administrative selling expense per unit
Total fixed selling expense
| Total fixed administrative expense
Merchandise inventory, opening balance
Merchandise inventory, ending balance
Merchandise purchase
Tk.6,00,000
Tk.450
Tk.45
Tk.30
Tk.170,000
Tk.130,000
Tk.60,000
Tk.1,10,000
Tk.2,40,000
Required:
i. Prepare a traditional format income statement for the quarter ended March 31.
ii. Prepare a contribution format income statement for the quarter ended March 31.
Transcribed Image Text:. Zabeer Company is a large retailer of custom-built air conditioning units for commercial buildings. The company assembled the information shown below for the quarter ended March 31: Total sales revenue Selling price per unit Variable selling expense per unit |Variable administrative selling expense per unit Total fixed selling expense | Total fixed administrative expense Merchandise inventory, opening balance Merchandise inventory, ending balance Merchandise purchase Tk.6,00,000 Tk.450 Tk.45 Tk.30 Tk.170,000 Tk.130,000 Tk.60,000 Tk.1,10,000 Tk.2,40,000 Required: i. Prepare a traditional format income statement for the quarter ended March 31. ii. Prepare a contribution format income statement for the quarter ended March 31.
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