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The Fantastic Ice Cream Shoppe sold 9,100 servings of ice cream during June for $4 per serving. The shop purchases the ice cream in
The Fantastic Ice Cream Shoppe sold 9,100 servings of ice cream during June for $4 per serving. The shop purchases the ice cream in large tubs from the Deluxe Ice Cream Company. Each tub costs the shop $12 and has enough ice cream to fill 30 ice cream cones. The shop purchases the ice cream cones for $0.05 each from a local warehouse club. Located in an outdoor mall, the rent for the shop space is $1,800 per month. The shop expenses $220 a month for the depreciation of the shop's furniture and equipment. During June, the shop incurred an additional $2,400 of other operating expenses (75% of these were fixed costs). Read the requirements. Requirement 1. Prepare The Fantastic Ice Cream Shoppe's June income statement using a traditional format. The Fantastic Ice Cream Shoppe Income Statement For the Month Ended June 30 Requirements Less: Less: 1. Prepare The Fantastic Ice Cream Shoppe's June income statement using a traditional format. 2. Prepare The Fantastic Ice Cream Shoppe's June income statement using a contribution margin format. Print Done
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