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Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 270,000 Beginning merchandise inventory $ 18,000 Purchases $
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:
| Sales | $ | 270,000 |
| Beginning merchandise inventory | $ | 18,000 |
| Purchases | $ | 180,000 |
| Ending merchandise inventory | $ | 9,000 |
| Fixed selling expense | $ | ? |
| Fixed administrative expense | $ | 10,800 |
| Variable selling expense | $ | 13,500 |
| Variable administrative expense | $ | ? |
| Contribution margin | $ | 54,000 |
| Net operating income | $ | 16,200 |
Required:
1. Prepare a contribution format income statement.
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