The Alpine House, Incorporated, is a large retaller of snow skis. The company assembled the Information shown below for the quarter ended March 31: 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 Amount $ 1,000,000 $ 450 $ 49 $ 19 $ 150,000 $ 105,000 $ 80,000 $ 115,000 $ 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?
The Alpine House, Incorporated, is a large retaller of snow skis. The company assembled the Information shown below for the quarter ended March 31: 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 Amount $ 1,000,000 $ 450 $ 49 $ 19 $ 150,000 $ 105,000 $ 80,000 $ 115,000 $ 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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
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
Required 1 Required 2
Required 3
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?
Complete this question by entering your answers in the tabs below.
Prepare a traditional income statement for the quarter ended March 31.
The Alpine House, Incorporated
Traditional Income Statement
Amount
$ 1,080,000
$ 450
Selling and administrative expenses:
< Required 1
$ 49
$ 19
$ 150,000
$ 105,000
$ 80,000
$ 115,000
$ 295,000
Required 2 >
||
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