Milden Company is a merchandiser that plans to sell 33,000 units during the next quarter at a selling price of $55 per unit. The company also gathered the following cost estimates for the next quarter:

Cost	Cost Formula
Cost of good sold	$25 per unit sold
Advertising expense	$182,000 per quarter
Sales commissions	5% of sales
Shipping expense	$32,000 per quarter + $5.00 per unit sold
Administrative salaries	$92,000 per quarter
Insurance expense	$10,200 per quarter
Depreciation expense	$62,000 per quarter

Required:

1. Prepare a contribution format income statement for the next quarter.

Prepare a contribution format income statement for the next quarter.

Milden Company
Contribution Format Income Statement
For the Next Quarter
Variable expenses:
Total variable expenses		0
Contribution margin
Fixed expenses:
Total fixed expenses		0

2. Prepare a traditional format income statement for the next quarter.

Prepare a traditional format income statement for the next quarter.

Milden Company
Traditional Format Income Statement
For the Next Quarter
Selling and administrative expenses:
Total selling and administrative expenses		0