Reference no: EM132064542
Question: The alpine house, inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31
Total Sales Revenue $150,000
Selling Price per pair of skis $750
Variable selling expense per pair of skis $50
Total fixed selling expense $20,000
Total fixed administrative expense $20,000
Beginning merchandise inventory $30,000
Ending merchandise inventory $40,000
Merchandise purchases $100,000
1. Prepare a traditional income statement for the quarter ended March 31.
2. Prepare a contribution format income statement for the quarter ended March 31.
3. What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter?