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Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Variable
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income statement for July. 6,400 $ 600 $ 416 $ 56 $ 125,900 $ 24 $ 207,800 Required A Required B Prepare a traditional format income statement for July. Fanelli Corporation For the month of July Traditional Income Statement Selling and administrative expenses: Required A Required B. Prepare a contribution format income statement for July. Variable expenses: Fanelli Corporation For the month of July Contribution Format Income Statement Fixed expenses: < Required A Required S
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