Chapter 1 Chapter 1: Homework Saved Help Save& Exit Submit Check my work 6 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 2.5 points Sales Beginning nerchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 210,000 $ 14,000 140,000 $ 7,000 Print 5 8,400 10,500 References 42,000 5 12,600 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 net format (traditional format or contribution format) would be more useful to managers in estimating how operating income will change in responses to changes in unit sales? Complete this question by entering your answers in the tabs below Rea 6 Rea 1 Reg 2 Rea 3 to 5 KPrev 6 of 8 Next> 6 Check mmy work Complete this question by entering your answers in the tabs below. 2.5 points Req 1 Req 2 Req 3 to 5 Req 6 Prepare a contribution format income statement. eBook Print References Todrick Company Contribution Format Income S Sales Variable expenses: Selling expense Cost of goods sold Administrative expense Ending merchandise inventory Ending merchandise inventory Contribution margin Fixed expenses: Administrative expense Selling expense Ending merchandise inventory Ending merchandise inventory Net operating income KPrev 6 of 8 Next > 6 Complete this question by entering your answers in the tabs below 2.5 points Req 1 Req 2 Req 3 to 5 Req 6 Prepare a traditional format income statement. eBook Todrick Company Print Traditional Income Statement References Selling and administrative expenses: Req 1 Req 3 to 5 Chapter 1: Homework Saved 6 Complete this question by entering your answers in the tabs below 2.5 points Req 1 Req 2 Req 3 to 5Req 6 3. Calculate the selling price per unit. 4. Calculate the variable, cost per unit. 5. Calculate the contribution margin per unit. eBook Print References 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unit Req 2 Req 6