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Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quilts from local Amish artisans for $290 each, and her shop sells them for
Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quilts from local Amish artisans for $290 each, and her shop sells them for $460 each. She also pays a sales commission of 6% of sales revenue to her sales staff. Paula leases her country-style shop for $800 per month and pays $1,500 per month in payroll costs in addition to the sales commissions. Pauls sold 100 quits in February. Prepare Paula's traditional income statement and contribution margin income statement for the month For the Month Ended February 28 Less Less Prepare the contribution margin income statement for the month Paula's Quilt Shoppe Contribution Margin Income Statement For the Month Ended February 28 Las Lase
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