Problem 149 (Static) Traditional and Contribution Format Income Statements [LO1-6] Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 300,000 Beginning merchandise inventory $ 20,000 Purchases S 200,000 Ending merchandise inventory $ 7,000 Fixed selling expense ? Fixed administrative expense 5 12,000 Variable selling expense $ 15,000 Variable administrative expense ? Contribution margin 60,000 Net operating income 18,000 01-03 Required: . Prepare a contribution format income statement. . Prepare a traditional format income statement. . Calculate the selling price per unit. . Calculate the variable cost per unit. . Calculate the contribution margin per unit. . Which income statement format {traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? OTU'ILUJM' Required: . Prepare a contribution format income statement. Prepare a traditional format income statement. Calculate the selling price per unit. Calculate the variable cost per unit. Calculate the contribution margin per unit. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? ewewwa Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unit Req uired: Prepare a contribution format income statement. Prepare a traditional format income statement. Calculate the selling price per unit. Calculate the variable cost per unit. Calculate the contribution margin per unit. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? P'P'PWNH Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales?