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Please help me. thank you! Pamela's Quilt Shoppe sells homemade Amish quilts. Pamela buys the quilts from local Amish artisans for $230 each, and her
Please help me. thank you!
Pamela's Quilt Shoppe sells homemade Amish quilts. Pamela buys the quilts from local Amish artisans for $230 each, and her shop sells them for $430 each. She also pays a sales commission of 8% of sales revenue to her sales staff. Pamela leases her country-style shop for $1,700 per month and pays $2,100 per month in payroll costs in addition to the sales commissions. Pamela sold 75 quilts in February. Prepare Pamela's traditional income statement and contribution margin income statement for the month. Prepare the traditional income statement for the month. Pamela's Quilt Shoppe sells homemade Amish quilts. Pamela buys the quilts from local Amish artisans for $230 each, and her shop sells them for $430 each. She also pays a sales commission of 8% of sales revenue to her sales staff. Pamela leases her country-style shop for $1,700 per month and pays $2,100 per month in payroll costs in addition to the sales commissions. Pamela sold 75 quilts in February. Prepare Pamela's traditional income statement and contribution margin income statement for the monthStep by Step Solution
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