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 | ||
| Sales | $ | 1,118,000 |
| Selling price per pair of skis | $ | 430 |
| Variable selling expense per pair of skis | $ | 47 |
| Variable administrative expense per pair of skis | $ | 20 |
| Total fixed selling expense | $ | 145,000 |
| Total fixed administrative expense | $ | 115,000 |
| Beginning merchandise inventory | $ | 80,000 |
| Ending merchandise inventory | $ | 115,000 |
| Merchandise purchases | $ | 315,000 |
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?
In: Accounting
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 Sales $ 1,050,000
Selling price per pair of skis $ 420
Variable selling expense per pair of skis $ 46
Variable administrative expense per pair of skis $ 16
Total fixed selling expense $ 150,000
Total fixed administrative expense $ 125,000
Beginning merchandise inventory $ 70,000
Ending merchandise inventory $ 115,000
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?
In: Accounting
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 | ||
| Sales | $ | 946,000 |
| Selling price per pair of skis | $ | 430 |
| Variable selling expense per pair of skis | $ | 48 |
| Variable administrative expense per pair of skis | $ | 17 |
| Total fixed selling expense | $ | 130,000 |
| Total fixed administrative expense | $ | 130,000 |
| Beginning merchandise inventory | $ | 70,000 |
| Ending merchandise inventory | $ | 120,000 |
| Merchandise purchases | $ | 280,000 |
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?
In: Accounting
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 Sales $ 1,394,000 Selling price per pair of skis $ 410 Variable selling expense per pair of skis $ 48 Variable administrative expense per pair of skis $ 16 Total fixed selling expense $ 135,000 Total fixed administrative expense $ 110,000 Beginning merchandise inventory $ 65,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 315,000
Required: A. Prepare a traditional income statement for the quarter ended March 31.
B. Prepare a contribution format income statement for the quarter ended March 31.
C. What was the contribution margin per unit?
In: Accounting
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 | ||
| Sales | $ | 1,320,000 |
| Selling price per pair of skis | $ | 400 |
| Variable selling expense per pair of skis | $ | 46 |
| Variable administrative expense per pair of skis | $ | 15 |
| Total fixed selling expense | $ | 155,000 |
| Total fixed administrative expense | $ | 125,000 |
| Beginning merchandise inventory | $ | 80,000 |
| Ending merchandise inventory | $ | 120,000 |
| Merchandise purchases | $ | 315,000 |
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?
In: Accounting
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 | ||
| Sales | $ | 1,408,000 |
| Selling price per pair of skis | $ | 440 |
| Variable selling expense per pair of skis | $ | 50 |
| Variable administrative expense per pair of skis | $ | 16 |
| Total fixed selling expense | $ | 150,000 |
| Total fixed administrative expense | $ | 115,000 |
| Beginning merchandise inventory | $ | 75,000 |
| Ending merchandise inventory | $ | 115,000 |
| 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 margin per unit?
In: Accounting
he 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 | $ | 1,066,000 |
| Selling price per pair of skis | $ | 410 |
| Variable selling expense per pair of skis | $ | 47 |
| Variable administrative expense per pair of skis | $ | 18 |
| Total fixed selling expense | $ | 155,000 |
| Total fixed administrative expense | $ | 120,000 |
| Beginning merchandise inventory | $ | 75,000 |
| Ending merchandise inventory | $ | 115,000 |
| Merchandise purchases | $ | 310,000 |
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?
In: Accounting
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 | ||
| Sales | $ | 1,025,000 |
| Selling price per pair of skis | $ | 410 |
| Variable selling expense per pair of skis | $ | 49 |
| Variable administrative expense per pair of skis | $ | 18 |
| Total fixed selling expense | $ | 150,000 |
| Total fixed administrative expense | $ | 110,000 |
| Beginning merchandise inventory | $ | 65,000 |
| Ending merchandise inventory | $ | 115,000 |
| 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 margin per unit?
In: Accounting
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 Sales $ 1,435,000 Selling price per pair of skis $ 410 Variable selling expense per pair of skis $ 50 Variable administrative expense per pair of skis $ 18 Total fixed selling expense $ 150,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 65,000 Ending merchandise inventory $ 110,000 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?
In: Accounting
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 Sales $ 1,008,000 Selling price per pair of skis $ 420 Variable selling expense per pair of skis $ 48 Variable administrative expense per pair of skis $ 16 Total fixed selling expense $ 150,000 Total fixed administrative expense $ 125,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 115,000 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?
In: Accounting