Prepare a traditional income statement

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

Questions Cloud

Hospital national patient safety goals : Assess the impact of the 2014 Hospital National Patient Safety Goals on Hospital Care and describe how they will affect reimbursement.

What is the ones complement of the sum of these bytes : What is the one's complement of the sum of these bytes? Show all your work. Why does UDP use the one's complement of the sum, not the sum?

Explain the pathology of bowl area from the iffgd site : Explain the pathology of the bowl area from the IFFGD site? Choose a bowel area and then a specific pathology from this site?

What are some techniques you can use to address conflict : Conflict at work is never easy. Sometimes you may not agree with a supervisor, peer, or client. What are some techniques you can use to address conflict?

Prepare a traditional income statement : Prepare a traditional income statement for the quarter ended March 31. Prepare a contribution format income statement for the quarter ended March 31

Describe something from the video that surprised you : Describe something from the video that surprised you or made you think of something a little differently. If nothing surprises, in detail, explain why.

What are the common policies used in the modern network : What are the common policies used in the modern network?

File a part-year resident return with virginia : File a part-year resident return with Virginia, a part-year resident return with Maryland, and a resident return with New York

Informing public health policy : How do you view the role of health providers in informing public health policy?

User Account

All Pages