The

Yummy

Ice Cream Shoppe sold

9,400

servings of ice cream during June for

$4

per serving. The shop purchases the ice cream in large tubs from the

Golden

Ice Cream Company. Each tub costs the shop

$15

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

$240

a month for the depreciation of the shop's furniture and equipment. During June, the shop incurred an additional

$2,300

of other operating expenses

(75%

of these were fixed costs). Read the requirements

LOADING...

.

Requirement 1. Prepare The

Yummy

Ice Cream Shoppe's June income statement using a traditional format.

The Yummy Ice Cream Shoppe
Income Statement
For the Month Ended June 30
Sales revenue			37600
Less:	Cost of goods sold
Gross profit
Less:	Operating expenses
	Lease expense
	Depreciation expense
	Other Operating expenses
Operating income

Requirement 2.) Prepare the Yummy Ice Cream shop's June income statement using a contribution margin format.