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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 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 $1,271,000 410 4 6 18 $ 140,000 $ 125,000 $ 70,000 $ 110,000 $ 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? 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 Required 2

Amount 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 $1,271,000 410 46 18 $ 140,000 $ 125,000 $ 70,000 $ 110,000 $ 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? Complete this question by entering your answers in the tabs below Required 1Required 2Required 3 Prepare a contribution format income statement for the quarter ended March 31 The Alpine House, Inc. Contribution Format Income Statement ariable expenses Fixed expenses:

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 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 $1,271,000 410 4 6 18 $ 140,000 $ 125,000 $ 70,000 $ 110,000 $ 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? Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 What was the contribution margin per unit? (Round your final answer to nearest whole dollar.) margin per unit Required 2 Required 3

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Answer #1

Calculating Cost of Goods Sold Beginning merchandise inventory $70,000 $3,15,000 -$1,10,000 $2,75,000 ADD: Merchandise purchasse (LESS): Ending merchandise inventory Cost of Goods Sold No of snow skis sold Sales/ Selling Price per Unit = SI,271,000 / $410 3100 Units Sold Calculating Total Selling Expenses Variable Selling expenses ($46 X 3,100 Units) ADD: $1,42,600 $1,40,000 $2,82,600 Fixed Selling Expense Total Selling Expenses Calculating Total Administrative Expenses Variable Administrative expenses ($18 X 3,100 Units) $55,800 $1,25,000 $1,80,800 Fixed Administrative Expenses Total Administrative Expenses ADD:1) The Alpine House, Inc Traditional Income Statement $12,71,000 $2,75,000 $9,96,000 Sales (Less): Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Admnistrative expenses $2,82,600 $1,80,800$4,63,400 Net Operating Income $5,32,600 2) The Alpine House, Inc Contribution Format Income Statement $12,71,000 Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses $2,75,000 $1,42,600 $55,800 S473,400 $7,97,600 Contribution margin Fixed expenses Selling expenses Administrative expenses $1,40,000 1,25,000$2,65,000 $5,32,600 Net Operating Income3) Selling Price per Unit $410 Variable Cost per Unit Total Variable Cost (A) $4,73,400 No of Units Sold (B) $3,100 Variable Cost per Unit (A)/ (B) $153 Contribution margin per unit is equal to Selling price per unit - Variable Cost per Unit $410 - $153 $257

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