Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 390,000 Beginning merchandise inventory $ 26,000 Purchases $ 260,000 Ending merchandise inventory $ 13,000 Fixed selling expense $ ? Fixed administrative expense $ 15,600 Variable selling expense $ 19,500 Variable administrative expense $ ? Contribution margin $ 78,000 Net operating income. $ 23,400 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Todrick Company Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Selling expense Administrative expense Contribution margin Fixed expenses: Selling expense Administrative expense Net operating income $ 273,000 19,500 15,600 15,600 $ 390,000 308,100 81,900 15,600 Prepare a traditional format income statement. Todrick Company Traditional Income Statement Selling and administrative expenses: 0 0 < Req 1 Req 3 to 5 > 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unit