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hi there, this is one accounting problem i really need help with. im completely stuck and it's the last one im confused on. thank you
hi there, this is one accounting problem i really need help with. im completely stuck and it's the last one im confused on. thank you for the help!
The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 902.000 Selling price per pair of skis $ 410 Variable selling expense per pair of skis $ 48 Variable administrative expense per pair of skis $ 17 Total fixed selling expense $ 145,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 65,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 295,000 Required (Hint: there are more lines than you need in the tables below. some lines will remain blank): 1. Prepare a traditional income statement for the quarter ended March 31. (Hits: (0) you will need to calculate the number of units from the sales information above: (2) if you don't remember how to calculate Cost r Goods Sold from the information above, see p. 43 in your book) 2. Prepare a contribution format income statement for the quarter ended March 31 3. What was the contribution margin per unit? Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement 902,000 255,000 647,000 Sales Cost of goods sold Gross margin Selling and administrative expenses: Administrative expenses Selling expenses 250,600 250,600 Net operating income Prepare a contribution format income statement for the quarter ended March 31. the Alpine House, Incorporated Contribution Format Income Statement Sales Variable expenses: Selling expenses Administrative expenses 0 Fixed expenses: Selling expenses Administrative expenses 0 Net operating income 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) Contribution margin per unit Step by Step Solution
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