Problem 1-19 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: ales Beginning merchandise inventory Purchases $ 330,000 $ 22,000 $ 220,000 Ending merchandise inventory $ 11,000 Fixed selling expense Fixed administrative expense $ 13,200 Variable selling expense $ 16,500 Variable administrative expense ? $ 66,000 $ 19,800 Contribution margin Net operating income Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estima operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. < Prev 7 of 9 Next > a 31F A