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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue... $150,000 Selling price per pair of skis $750 Variable selling expense per pair of skis.. $50 Variable administrative expense per pair of skis $10 Total fixed selling expense $20,000 Total fixed administrative expense $20,000 Beginning merchandise inventory $30,000 Ending merchandise inventory... Merchandise purchases.... $40,000 $100,000 Required: 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 margin for each pair of skis sold during the quarter? (State this figure in a single dollar amount per pair of skis.) = C
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