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Exercise 1-13 Traditional and Contribution Format Income Statements [LO1-6] The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information
Exercise 1-13 Traditional and Contribution Format Income Statements [LO1-6] The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31 Amount $ 920,000 400 46 Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis $ Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases S 160,000 100,000 $ 75,000 S 105,000 $ 285,000 Required 1. Prepare a traditional income statement for the quarter ended March 31 The Alpine House, Inc. Traditional Income Statement Selling and administrative expenses 0 2. Prepare a contribution format income statement for the quarter ended March 31. (Round your answer to nearest whole dollar.) The Alpine House, Inc Contribution Format Income Statement Variable expenses: 0 Fixed expenses 0 3. What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter? (Round your answer to the nearest whole dollar.) Contribution of each pair of skis was
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