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lelp Save&Exit Submit Check my work The Alpine House, Inc., s 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 $ 1,462,000 430 47 18 $150,000 $105,000 $70,000 s 110,000 $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? 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 Sales S 1,462,000 < Prev 7of 10Eİ | Next > MacBook Air
2. Prepare a contribution format income statement for the quarte 3. What was the contribution margin per unit? Complete this question by entering your answers in the tabs Required 1Required 2 Required 3 Prepare a traditional income statement for the quarter ended March 3 The Alpine House, Inc Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses $ 1,462,000 250,000 Selling expenses Administrative expenses 0 et operating incom Requir c Prev of 10 Next >
2. Prepare a contribution format income statement for the qua 3. What was the contribution margin per unit? Complete this question by entering your answers in the Required 1 Required 2 Required 3 Prepare a contribution format income statement for the quartere The Alpine House, Inc. Contribution Format Income Statement Variable expenses: Fixed expenses 0 く Prev 7of 101 Next >
Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement for the quarter e 2. Prepare a contribution format income statement for the 3. What was the contribution margin per unit? Complete this question by entering your answers in t Required 1 Required 2 Required 3 What was the contribution margin per unit? (Round your final Contribution margin per unit Required 2 Prev 7 of 10 Next >
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Answer #1

Requirement 1 The Alpine House, Inc Traditional Income Statement 14,62,000 2,50,000 12,12,000 Costof goods sold Gross margin Selling and administrative expenses: Selling expenses (3400 * 47+ 150,000) Administrative expenses (3400 18+ 105,000) 1,66,.200 Total Selling and administrative expenses Net Operating Income 3,09,800 4,76,000 7,36,000

Sales units = 1,462,000 / 430 = 3400 units

Cost of goods sold = Beginning merchandise inventory + Merchandise purchased - Ending merchandise

Cost of goods sold = 70,000 + 290,000 - 110,000

Cost of goods sold = $250,000

Requirement 2 The Alpine House, Inc Contribution Formate Income Statement Sales Variable expenses: Cost of goods sold Selgexpenses (3400 47) 14,62,000 2,50,000 1,59,800 61,200 Administrative expenses (3400 18) 4,71,000 9,91,000 Total variable expenses Contribution margin Fixed expenses: Selling expenses Administrative expenses Total Fixed expenses Net Income 1,50,000 1,05,000 2,55,000 7,36,000

Requirement 3 Contribution margin per unit - Sales Variable cost Selling price 430 Variable selling expenses 47 administrative expenses 18 Varilable Cost of goods sold 250,000/3400 783 Contribution margin per unit 430 (47 +18+73.5) Contribution margin per unit- 291.5

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