3 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense. Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Cherokee, Incorporated i Contribution Format Income Statement. Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed expenses: Selling expenses Administrative expenses Net operating income PRVURE 11,000 $ 17 $1 $1 $ 73,000 $ 20,000 $ 14,000 $ 10,000 $ 24,000 $ 87,000 $ 187,000 73,000 0
3 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense. Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Cherokee, Incorporated i Contribution Format Income Statement. Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed expenses: Selling expenses Administrative expenses Net operating income PRVURE 11,000 $ 17 $1 $1 $ 73,000 $ 20,000 $ 14,000 $ 10,000 $ 24,000 $ 87,000 $ 187,000 73,000 0
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...
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