Question
The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount
The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:
Amount | |
---|---|
Sales | $ 1,066,000 |
Selling price per pair of skis | $ 410 |
Variable selling expense per pair of skis | $ 48 |
Variable administrative expense per pair of skis | $ 17 |
Total fixed selling expense | $ 145,000 |
Total fixed administrative expense | $ 120,000 |
Beginning merchandise inventory | $ 75,000 |
Ending merchandise inventory | $ 110,000 |
Merchandise purchases | $ 300,000 |
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 per unit?
Prepare a traditional income statement for the quarter ended March 31.
|
Prepare a contribution format income statement for the quarter ended March 31.
|
What was the contribution margin per unit? (Round your final answer to nearest whole dollar.)
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started