Todrick Company is a merchandiser that reported the following information based on $1,000$ units sold:

Sales $ $465,000$

Beginning merchandise inventory $ $31,000$

Purchases $ $310,000$

Ending merchandise inventory $ $15,500$

Fixed selling expense $?$

Fixed administrative expense $ $18,600$

Variable selling expense $ $23,250$

Variable administrative expense $?$

Contribution margin $ $93,000$

Net operating income $ $27,900$

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?Problem $1-19($Algo$)$ Traditional and Contribution Format Income Statements $[$LO$1-6]$

Todrick Company is a merchandiser that reported the following information based on $1,000$ units sold:

Required:

Prepare a contribution format income statement.

Prepare a traditional format income statement.

Calculate the selling price per unit.

Calculate the variable cost per unit.

Calculate the contribution margin per unit.

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?