Quince Products is a merchandiser that sells specialty fruit jams. The following information is provided by Quince Products.

		Amount
Number of Units Sold		11,000
Selling Price per unit		$16
Variable selling expense per unit		$1
Variable administrative expense per unit		$2
Total fixed selling expense		$19,000
Total fixed administrative expense		$15,000
Beginning merchandise inventory		$10.000
Ending merchandise inventory		$26,000
Merchandise purchases		$85,000

Prepare a traditional income statement and a contribution format income statement. Sales = $176,000.

Traditional Income Statement and Contribution Format IncomeTable Options: administrative expenses, sales, beginning merchandise inventory, costs of goods sold, direct labor, direct materials, ending merchandise inventory, fixed manufacturing overhead, indirect labor, indirect materials, manufacturing overhead, purchases, selling expenses, variable manufacturing overhead.

Contribution Format income table must include variable and fixed expenses.