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Make contribution format income statement for next quarter

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Reference no: EM132596214

Milden Company is a merchandiser that plans to sell 33,000 units during the next quarter at a selling price of $55 per unit. The company also gathered the following cost estimates for the next quarter:

Cost                                                             Cost Formula

Cost of good sold                            $25 per unit sold

Advertising expense                         $182,000 per quarter

Sales commissions                           5% of sales

Shipping expense                              $32,000 per quarter + $5.00 per unit sold

Administrative salaries                      $92,000 per quarter

Insurance expense                          $10,200 per quarter

Depreciation expense                       $62,000 per quarter

Required:

Question 1. Prepare contribution format income statement for the next quarter.

Question 2. Prepare traditional format income statement for the next quarter.

Reference no: EM132596214

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