Solution-Create a traditional income statement for the

Create a traditional income statement for the quarter ended

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Reference no: EM132500980

Traditional and Contribution Format Income Statements

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:

AmountSales $1,428,000

Selling price per pair of skis $420

Variable selling expense per pair of skis $48

Variable administrative expense per pair of skis $18

Total fixed selling expense $140,000

Total fixed administrative expense $125,000

Beginning merchandise inventory $65,000

Ending merchandise inventory $100,000

Merchandise purchases $310,000

Required:

Question 1. Create a traditional income statement for the quarter ended March 31.

Question 2. Create a contribution format income statement for the quarter ended March 31.

Question 3. What was the contribution margin per unit?

Reference no: EM132500980

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Create a traditional income statement for the quarter ended

Reference no: EM132500980

Reference no: EM132500980

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