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Kerri's Ice Cream Shoppe sold 9,200 servings of ice cream during June for $4 per serving. Kerri purchases the ice cream in large tubs
Kerri's Ice Cream Shoppe sold 9,200 servings of ice cream during June for $4 per serving. Kerri purchases the ice cream in large tubs from the Organic Ice Cream Company. Each tub costs Kerri $15 and has enough ice cream to fill 30 ice cream cones. Kerri purchases the ice cream cones for $0.05 each from a local warehouse club. Kerri's Shoppe is located in a local strip mall, and she pays $2,050 a month to lease the space. Kerri expenses $340 a month for the depreciation of the shop's furniture and equipment. During June, Kerri incurred an additional $2,900 of other operating expenses (75% of these were fixed costs). Requirements Prepare Kerri's June income statement using a traditional format. 1. 2. Prepare Kerri's June income statement using a contribution margin format.
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