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Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quilts from local Amish artisans for $240 each, and her shop sells them for $390
Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quilts from local Amish artisans for $240 each, and her shop sells them for $390 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Paula leases her country-style shop for $1,100 per month and pays $1300 per month in payroll costs in addition to the sales commissions. 3aula sold 90 quilts in February. Prepare Paula's traditional income statement and contribution margin income statement for the month. Prepare the traditional income statement for the month. Paula's Quilt Shoppe Income Statement For the Month Ended February 28 : Less: ll Less
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