Problem #1 in the exercise

List the different costs associated with the new product decision down the extreme left column (under Name of the Cost). Then place an X under each heading that helps to describe the type of cost involved. cost, od cost, and a sunk cost: you would place an X under each of these column headings opposite the cost.) There may be X's under several column headings for a single cost. (For example, a cost may be a fixed EXERCISE I-1 The Alpine House, Inc., below for the quarter ended March 31 13 Traditional and Contribution Format Income Statements [LOI-6] is a large retailer of snow skis. The company assembled the information shown Amount Total sales revenue. $150,000 $750 $50 $10 Total fixed selling expense . . . $20,000 Total fixed administrative expense . . . . . . . . . . . .?.. $20,000 Selling price per pair of skis Variable selling expense per pair of skis........... Variable administrative expense per pair of skis $40,000 Ending merchandise inventory Merchandise purchases .. $100,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. Prepare a contribution format income statement for the quarter ended March 31 the contribution toward fixed expenses and profits for each pair of skis sold during the