Whitman Corporation, a merchandising company, reported sales of 7,400 units for May at a selling price of P 677 per unit. The cost of goods sold (all variable) was P 441 per unit and the variable selling expense was P 54 per unit. The total fixed selling expense was P 155,600. The variable administrative expense was P 24 per unit and the total fixed administrative expense was P 370,400. Prepare a traditional format and contribution format income statement for May. You may use the excel file in the practice sheet.

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. 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 2 Required 3 Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Incorporated Traditional Income Statement Required 1 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Amount $ 1,428,000…

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Amazin' 69 Corp. Income Statement For Month Ending May 31, 20XX Fixed Cost of Goods Sold Fixed Selling and Administrative Costs Sales Revenue Variable Cost of Goods Sold Variable Selling and Administrative Costs Operating Income Calculate the contribution margin and operating income for May Amazin' 69 Corp. Contribution Margin Income Statement For Month Ending May 31 20XX

1. Shown below is an income statement in the traditional format for Ellie Inc, which has a contribution margin ratio of 25%. Sales ...... Cost of goods sold... Gross profit...... Operating expenses: Selling... Administrative.... Operating income $100,000 (70,000) $ 30,000 (5,000) (10,000) $ 15,000 Prepare an income statement in the contribution margin format. b. Calculate the sales per unit, variable expense per unit, and contribution margin per unit if 10,000 units were produced and sold. c. Calculate the cost formula (Y=a+bX). d. Calculate the firm's break even point in units.

Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 300,000 Beginning merchandise inventory $ 20,000 Purchases $ 200,000 Ending merchandise inventory $ 7,000 Fixed selling expense ?question mark Fixed administrative expense $ 12,000 Variable selling expense $ 15,000 Variable administrative expense ?question mark Contribution margin $ 60,000 Net operating income $ 18,000  3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit.

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Aidel Inc., a merchandising company, reported the following results for September. Cost of goods sold 205,837 Fixed selling and administrative expense 41,331 Variable selling and administrative expense, 86,269 Sales revenue 563,800 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate break – even in dollars. Cost of goods sold is a variable cost in this company. Enter only the amount for the break – even in dollars in the box provided below ( rounded to a whole number, based on general rounding rules). Enter the amount only. Do not enter letters, words, dollar signs or the calculation.

Morning Company reports the following information for March: E (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate the gross profit and operating income for March using absorption costing. Morning Company Income Statement (Absorption Costing) For the Month Ended March 31 Data Table Net Sales Revenue 67,850 Variable Cost of Goods Solłd 19,300 Operating income Fixed Cost of Goods Sold 8,400 Variable Selfing and Administrative Costs 16,500 Requirements Fixed Selling and Administrative Costs 3,800 1. Calculate the gross profit and operating income for March using absorption costing. 2. Calculate the contribution margin and operating income for March using variable costing. Print Done