Question
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: sales - $21000 beginning merchandise inventory - $14000 purchases -
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:
sales - $21000
beginning merchandise inventory - $14000
purchases - $140000
ending merchandise inventory - $7000
fixed selling expense - ?
fixed administrative expense - $8400
variable selling expense - $10500
variable administrative expense - ?
contribution margin - $42000
net operating income - $12600
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
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