Chapter 1 Exercises A 3 Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: 20 Sales $435,000 points Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense $ 29,000 Skipped $290,000 $ 14,500 eBook Fixed administrative $ 17,400 expense Variable selling expense Variable administrative $ 21,750 Print expense Contribution margin Net operating income $ 87,000 $ 26,100 References 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 3 to Reg 6 Req 1 Req 2 Prepare a contribution format income statement. Todrick Company Contribution Format Income Statement Variable expenses: Fixed expenses: Complete this question by entering your answers in the tabs below. Req 3 to Req 6 Req 1 Req 2 Prepare a traditional format income statement. Todrick Company Traditional Income Statement Selling and administrative expenses: Complete this question by entering your answers in the tabs below. Req 3 to Req 6 Req 1 Req 2 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. Show lessA 3. Selling price per unit 4. Variable cost per unit Contribution margin per 5. unit