Problem D2-25 (Part Level Submission)

J Bramble, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31:

Sales revenue

$776,500

Cost of goods sold

400,000

Gross margin

376,500

Operating expenses

Selling expense

$23,880

Administrative expense

50,290

74,170

Net operating income

$302,330

Bramble sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales.

(a)

Your answer is partially correct.Try again.Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.)

Per Unit