Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
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: Amount Total sales revenue $ 968,000 Selling price per pair of skis $ 440 Variable selling expense per pair of skis $ 47 Variable administrative expense per pair of skis $ 20 Total fixed selling expense $ 130,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 115,000 Merchandise purchases $ 300,000
Prepare a contribution format income statement for the quarter ended March 31.
|
|
What was the contribution margin per unit? (Round your final answer to nearest whole dollar.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?arrow_forwardThe Alpine House, Inc. is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue $ 968,000 Selling price per pair of skis $ 440 Variable selling expense per pair of skis $ 47 Variable administrative expense per pair of skis $ 20 Total fixed selling expense $ 130,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 115,000 Merchandise purchases $ 300,000 1. prepare the traditional income statement for the quarter ended march 31 come statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Sales $968,000 Cost of goods sold 255,000 Gross margin 713,000 Selling and administrative expenses: Selling expenses $233,400 Administrative expenses 159,000 392,400 784,800 Net operating incomearrow_forwardThe Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 1,276,000 Selling price per pair of skis $ 440 Variable selling expense per pair of skis $ 49 Variable administrative expense per pair of skis $ 17 Total fixed selling expense $ 135,000 Total fixed administrative expense $ 110,000 Beginning merchandise inventory S 75,000 Ending merchandise inventory $ 120,000 Merchandise purchases $ 290,000 Required: 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 margin per unit?arrow_forward
- The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue $ 1,189,000 Selling price per pair of skis $ 410 Variable selling expense per pair of skis $ 46 Variable administrative expense per pair of skis $ 19 Total fixed selling expense $ 135,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 80,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 285,000 Required: 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?arrow_forwardThe Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 1,419,000 Selling price per pair of skis $ 430 Variable selling expense per pair of skis $ 46 Variable administrative expense per pair of skis $ 16 Total fixed selling expense $ 160,000 Total fixed administrative expense $ 110,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 110,000 Merchandise purchases $ 295,000 Required: 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 margin per unit?arrow_forwardAccounting The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 960,000 Selling price per pair of skis $ 400 Variable selling expense per pair of skis $ 50 Variable administrative expense per pair of skis $ 16 Total fixed selling expense $ 155,000 Total fixed administrative expense $ 110,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 320,000 Required: 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 margin per unit?arrow_forward
- The Alpine House, Inc., Is a large retaller of snow skis. The company assembled the Information shown below for the quarter ended March 31: Amount sales 946,000 Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 430 49 19 150,000 105,000 70,000 110,000 305,000 Requlred: 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 margin per unit? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Inc. Contribution Format Income Statement Variable expenses: Fixed expenses:arrow_forwardThe Alpine House, Ic., is a large retaller of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount 946,000 Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 430 49 19 24 150,000 105,000 24 70,000 110,000 24 305,000 Requlred: 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 margin per unit? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Inc. Traditional Income Statement Selling and administrative expenses: Required 1 Required 2 >arrow_forwardHaack Inc. is a merchandising company. Last month the company's cost of goods sold was $61,500. The company's beginning merchandise inventory was $16,200 and its ending merchandise inventory was $21,300. What was the total amount of the company's merchandise purchases for the month? $56,400 $61,500 $99,000 $66,600arrow_forward
- Haaker Inc. is a merchandising company. last month the company's cost of goods sold was $87,000. The company's beginning merchandise inventory was $21,000 and its ending merchandise inventory was $19,000. What was the total amount of the company's merchandise purchases for the month? $84,000 $126,000 $85,000 $87,000 Show work and calculationarrow_forwardHaab inc. Is a merchandising company. Last month the company's cost of goods sold was $70,400.arrow_forwardStone Beauty, Inc. is a merchandiser of stone omaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding freight in) $591,000 302,000 Selling and Administrative Expenses 69,000 Freight In 14,000 Beginning Merchandise Inventory 46,000 Ending Merchandise Inventory 43,000 What is the cost of goods available for sale for the year?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College