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Can someone please help me get fixed selling expense, AND variable admin expense, and explain how you get this! I am so confused and have
Can someone please help me get fixed selling expense, AND variable admin expense, and explain how you get this!
I am so confused and have been working on this for hours.
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 240,000 $ 16,000 $ 160,000 $ 8,000 Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Con $ 9,600 $ 12,000 tribution margin Net operating income $ 48,000 $ 14,400 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 2 Req 3 to 5 Req 6 Req 1 Prepare a contribution format income statement Todrick Company Format Income S Prey1 of 5 Next> Prepare a contribution format income statement. Todrick Company Contribution Format Income Statement Sales $ 240,000 Variable expenses Cost of goods sold $ 168,000 Selling expense 12,000 Administrative expense 180,000 Contribution margin 48,000 Fixed expenses Selling expense 9,600 Administrative expense 9,600 Net operating income
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