Check my Problem 1-19 (Algo) Traditional and Contribution Format Income Statements (L01-6) Todrick Company is a merchandiser that reported the following Information based on 1,000 units sold: Sales Beginning merchandise inventory Purchase Ending merchandise inventory Tixed selling expenso Tixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 255,000 $ 17,000 $ 170,000 $ 8,500 2 $ 10,200 12,750 2 $ 51,000 $ 15,300 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 estimating how net operating income will change in responses to changes in unit sales? Todrick Company Contribution Format Income Statement $ 255,000 Sales Variable expenses: Cost of goods sold Selling expense Administrative expense 0 Contribution margin Fixed expenses Selling expense Administrative expense 0 Net operating income Rec 2 > Reg 1 Reg 2 Reg 3 to 5 Reg 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement 0 Selling and administrative expenses: 0 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 to 5 Req6 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unit Check my work 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. Reg 1 Reg 2 Req 3 to 5 Reg 6 Which income statement format (traditional format or contribution format) would be more useful to managers in estimat how net operating income will change in responses to changes in unit sales? Traditional income statement Contribution income statement