67% Saved 5 Problem 1-19 Traditional and Contribution Format Income Statements [L01-6) Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: 210,000 14,000 140,000 87,000 Boginning morchandiae inventory Purchases Ending merchandise inventory Fixed selling expense Fixed adniniatrative expense Variable selling expense Variable adninistrative expenso Contribution margin Net operating income Book s 8,400 10,500 sk 42, 000 12,60o 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 responses to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to SReq 6 Prepare a contribution format income statement. Contribution Format Inco Variable expenses: