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Hello! Im having trouble completing this practice problem. Any help is greatly appreciated. Answer options for tables: Administrative expenses Beginning merchandise inventory Cost of goods
Hello! Im having trouble completing this practice problem. Any help is greatly appreciated.
Answer options for tables:
- Administrative expenses
- Beginning merchandise inventory
- Cost of goods sold
- Direct labor
- Direct materials
- Ending merchandise inventory
- Fixed manufacturing overhead
- Indirect labor
- Indirect materials
- Manufacturing overhead
- Purchases
- Sales
- Selling expenses
- Variable manufacturing overhead
Table 1
Table 2
Question 3
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales 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 Amount $ 1,320,000 $ 440 $ 47 $ 16 $ 135,000 $ 130,000 $ 80,000 $ 105,000 $ 310,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Required 1 Required 2 Required 3 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses $ 1,320,000 285,000 1,035,000 0 Net operating income Required 1 Required 2 Required 3 Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Inc. Contribution Format Income Statement Variable expenses: 0 Fixed expenses 0 Required 1 Required 2 Required 3 What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) Contribution margin per unitStep by Step Solution
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