Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at...
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Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $60 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: Cost Formula $30 per unit sold $ 180,000 per quarter 5% of sales $ 40,000 per quarter + $5.00 per unit sold $ 90,000 per quarter $ 10,000 per quarter $ 60,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Help Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $60 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: Cost Formula $30 per unit sold $ 180,000 per quarter 5% of sales $ 40,000 per quarter + $5.00 per unit sold $ 90,000 per quarter $ 10,000 per quarter $ 60,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Help
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Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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