Milden Company is a merchandiser that plans to sell 27,000 units during the next quarter at a selling price of $56 per unit. The company also gathered the following cost estimates for the next quarter: Cost Coot of good sold Advertising expense Sales commission Shipping expende Administrative salaries Insurance expense Depreciation expense Cost Formula $26 per unit sold 5176,000 per quarter 58 of sales $34,000 per quarter + $ 6.00 per unit sold $86,000 per quarter $9,600 per quarter $56,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter Knowledge Check 01 The direct materials required to manufacture each unit of product are listed on a bill of materials materials requisition form materials ticket job order cost sheet