1 | Todrick Company | ||
Contribution Format Income Statement | |||
Sales | $195000 | ||
Variable expenses: | |||
Cost of goods sold ($13000 + $130000 - $6500) | 124800 | ||
Selling expense | 9750 | ||
Administrative expense ($156000 - $124800 - $9750) | 21450 | ||
Total variable expenses ($195000 - $39000) | $156000 | ||
Contribution margin | $39000 | ||
Fixed expenses: | |||
Selling expense ($27300 - $7800) | $19500 | ||
Administrative expense | $7800 | ||
Total fixed expense ($39000 - $11700) | $27300 | ||
Net operating income $ | $11700 | ||
2 | Todrick Company | ||
Traditional Income Statement | |||
Sales | $195000 | ||
Cost of goods sold | $124800 | ||
Gross profit | $70200 | ||
Selling and administrative expenses: | |||
Fixed selling expense | $19500 | ||
Variable selling expense | $9750 | ||
Fixed administrative expense | $7800 | ||
Variable administrative expense | $21450 | $58500 | |
Net operating income $ | $11700 | ||
3 | Selling price per unit ($195000/1000) | $195 | |
4 | Variable cost per unit ($156000/1000) | $156 | |
5 | Contribution margin per unit ($195 - $156) | $39 | |
6 | Contribution income statement |
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold 195,...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 210,000 $ 14,000 $ 140,000 $ 7,000 Մ 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 Մ 8,400 10,500 Մ Մ Մ 42,000 12,600 ՄՌ 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 $ 465,000 Beginning merchandise inventory $ 31,000 Purchases $ 310,000 Ending merchandise inventory $ 15,500 Fixed selling expense $ ? Fixed administrative expense $ 18,600 Variable selling expense $ 23,250 Variable administrative expense $ ? Contribution margin $ 93,000 Net operating income $ 27,900 Prepare a contribution format income statement. Prepare a traditional format income statement. Calculate the selling price per unit, the variable...
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: $ 210,000 $ 14,000 $ 140,000 $ 7,000 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 $ 8,400 $ 10,500 $ 42,000 $ 12,600 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 315,000 Beginning merchandise inventory $ 21,000 Purchases $ 210,000 Ending merchandise inventory $ 10,500 Fixed selling expense $ ? Fixed administrative expense $ 12,600 Variable selling expense $ 15,750 Variable administrative expense $ ? Contribution margin $ 63,000 Net operating income $ 18,900 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: $ 210,000 $ 14,000 $ 140,000 $ 7,000 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 $ $ $ $ $ 8,400 10,500 ? 42,000 12,600 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 330,000 Beginning merchandise inventory 22,000 purchases 220,000 Ending merchandise inventory 11,000 Fixed administrative expense ? Fixed administrative expense 13,200 Variable selling expense 16,500 Variable administrative expense ? Contribution margin 66,000 Net operating Income 19,800 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. 5. Calculate...
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: points $ $ $ $ 345,000 23,000 230,000 11,500 A A eBook 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 A $ 13,800 17,250 Print References $ 69,000 20,700 Required: 1. Prepare a...
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 $ 210,000 Beginning merchandise inventory $ 14,000 Purchases $ 140,000 Ending merchandise inventory $ 7,000 Fixed selling expense $ ? Fixed administrative expense $ 8,400 Variable selling expense $ 10,500 Variable administrative expense $ ? Contribution margin $ 42,000 Net operating income $ 12,600 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price...