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Why is it saying the answer is not complete? What am I missing here? Do I need to fill in the blanks with anything? I
Why is it saying the answer is not complete? What am I missing here? Do I need to fill in the blanks with anything?
I included screenshots of what the options are of what to put in the blanks (IF anything needs to go in the blanks). What is going on here?
Problem 1-19 Traditional and Contribution Format Income Statements [LO1-6 Todrick Company is a merchandiser that reported the following information based on 1000 units sold: Sales $435,000 Beginning merchandise inventory Purchase 29,000 $290,000 Ending merchandise inventory Fixed selling expense 14,500 Fixed administrative 17,400 expense Variable selling expense Variable administrative 21,750 expense Contribution margin Net operating income 87,000 26,100 Required: 1 Prepare a contribution format lincome 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 usefull to managers estimating how net operating income will change in responses to changes in unit sales? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3 to 5 Req 2 Req 1 Req 6 Prepare a contribution format income statement. Todrick Company Contribution Format Income Statement IS 435,000 Sales Variable expenses: Cost of goods sold 304,500 21,750 21,750 Selling expense Administrative expense 348,000 87,000 Contribution margin Fixed expenses Selling expense Administrative expense $43,500 17,400 60,900 Net operating income $26,100Step by Step Solution
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