Graded Homework ences Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory $360,000 $ 24,000 $ 240,000 $ 12,000 $ 14,400 Fixed selling expense Fixed administrative expense Variable selling expense $ 18,000 Variable administrative expense Contribution margin $ 72,000 Net operating income $ 21,600 Saved 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 response to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 Prepare a contribution format income statement. Variable expenses Fixed expenses: Todrick Company Contribution Format Income Statement 0 ezto.mheducation.com/ext/map/index.html?_con-con&external browser=0&launchUrl=https%253A%252F%252Flms.mheduc Graded Homework Saved Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases $360,000 $ 24,000 Ending merchandise inventory Fixed selling expense Fixed administrative expense od $ 240,000 $ 12,000 $14,400 $ 18,000 Variable administrative expense $ 72,000 $ 21,600 ok Variable selling expense Contribution margin Net operating income Required: 1. Prepare a contribution format income statement 2. Prepare a traditional format income statement 3. Calculate the selling price per unit. nt 4. Calculate the variable cost per unit. int 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 h operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. rences Req 1 Req 2 Req 3 to 5 Req 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement Selling and administrative expenses: 5 08 80 oints Skipped eBook Problem 1-19 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases $360,000 $ 24,000 $ 240,000 $ 12,000 ? $ 14,400 Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense $ 18,000 Variable administrative expense Contribution margin $ 72,000 Net operating income $ 21,600 Hint Print 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 operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 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