Part 1 | Todrisk Company | ||
Contribution Format Income Statement | |||
Sales Revenue | $ 3,00,000 | ||
Variable expenses: | |||
Cost of goods sold | $ 2,13,000 | ||
Selling expenses | $ 15,000 | ||
Administrative expenses | $ 12,000 | $ 2,40,000 | |
Contribution Margin | $ 60,000 | ||
Fixed Expenses: | |||
Selling expenses | $ 30,000 | ||
Administrative expenses | $ 12,000 | $ 42,000 | |
Net Operating Income | $ 18,000 | ||
Part 2 | Todrisk Company | ||
Traditional Income Statement | |||
Sales Revenue | $ 3,00,000 | ||
Cost of Goods sold | $ 2,13,000 | ||
Gross Profit | $ 87,000 | ||
Selling and administrative expenses: | |||
Fixed Selling expenses | $ 30,000 | ||
Variable Selling expenses | $ 15,000 | ||
Fixed Administrative expenses | $ 12,000 | ||
Variable Administrative expenses | $ 12,000 | $ 69,000 | |
Net Operating Income | $ 18,000 | ||
Part 3 | Selling Price per unit($300,000/1000) | $ 300.00 | |
Part 4 | Variable cost per unit($240,000/1000 units) | $ 240.00 | |
Part 5 | Contribution margin per unit($300-$240) | $ 60.00 | |
Contribution Format Income statement is more beneficaila for manager
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 240,000 $ 16,000 $ 160,000 8,000 ? $ 9,600 $ 12,000 ? $ 48,000 $ 14,400 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4....
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 345,000 $ 23,000 $ 230, eee $ 11.5e Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 13. see 17,258 69. eee 20.700 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement 3. Calculate the selling price per unit. 4. Calculate the...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: 10 points $ 435,000 $ 29,000 $ 290,000 $ 14,500 Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 17,400 21,750 eBook $ 87,000 26,100 Print References Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit....
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income uuuuuuuuuu $ 270,000 $ 18,000 $ 180,000 9,000 ? 10,800 13,500 54,000 16,200 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 300,000 $ 20,000 $ 200,000 $ 7,800 $ ? $ 12,000 $ 15,000 $ 2 $ 60,000 18,800 I Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 405,000 $ 27,000 $ 270,000 $ 13,500 Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ $ $ $ $ 16,200 20,250 ? 81,000 24,300 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit....
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: A $ $ $ $ Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 240,000 16,000 160,000 8,000 ? 9,600 12,000 A $ $ A A $ $ 48,000 14,400 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income uuuuuuuu $ 435,000 $ 29,000 $ 290,000 $ 14,500 ? $ 17,400 $ 21,750 ? $ 87,000 $ 26,100 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 255,000 $ 17,000 $ 170,000 8,500 Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed adminiatrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 10,200 12,750 51,000 15,300 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit....
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold $270,000 $ 18,000 $ 180,000 $ 9,000 Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 10,800 $ 13,500 $ 54,000 $ 16,200 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the...