Question
Question: the alpine house, inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31
Question:
the alpine house, inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31
Total Sales Revenue $150,000
Selling Price per pair of skis $750
Variable selling expense per pair of skis $50
Total fixed selling expense $20,000
Total fixed adminastrative expense $20,000
Beginning merchandise inventory $30,000
Ending merchandise inventory $40,000
Merchandise purchases $100,000
1. Prepare a traditional income statement for the quarter ended March 31.
2. Prepare a contribution format income statement for the quarter ended March 31.
3. What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter?
NEEDS TO BE IN EXCEL FORMAT
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