Prepare a traditional income statement

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Reference no: EM133543551

Traditional and Contribution Format Income Statements [LO1-6]

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

Sales	$ 903,000
Selling price per pair of skis	$ 430
Variable selling expense per pair of skis	$ 48
Variable administrative expense per pair of skis	$ 19
Total fixed selling expense	$ 145,000
Total fixed administrative expense	$ 120,000
Beginning merchandise inventory	$ 75,000
Ending merchandise inventory	$ 110,000
Merchandise purchases	$ 290,000

Required:

Prepare a traditional income statement for the quarter ended March 31.
Prepare a contribution format income statement for the quarter ended March 31.
What was the contribution margin per unit?

Reference no: EM133543551

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