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First 3 pics are Question 1; Last 2 pics are Question 2 Required 1 Required 2 Required 3 Prepare a contribution format income statement for
First 3 pics are Question 1; Last 2 pics are Question 2
Required 1 Required 2 Required 3 Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Incorporated Contribution Format Income Statement Variable expenses: 0 Fixed expenses: 0 Required 1 Required 2 Required 3 Required 3 What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) Contribution margin per unit Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,483 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $ 959 per month Sales salaries and commissions $ 4,816 per month, plus 5% of sales Delivery of pianos to customers $ 62 per piano sold Utilities $ 657 per month Depreciation of sales facilities $ 5,014 per month Administrative: Executive salaries $ 13,589 per month Insurance $ 682 per month Clerical $ 2,450 per month, plus $39 per piano sold Depreciation of office equipment $ 921 per month During August, Marwick's Pianos, Incorporated, sold and delivered 56 pianos. Required: 1. Prepare a traditional format income statement for August. 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses 0 Administrative expenses: Total administrative expenses 0 Total selling and administrative expenses 0Required 1 Required 2 Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses Total variable expenses 0 0 Contribution margin Fixed expenses: Total fixed expenses 0Step by Step Solution
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