Question

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1,247,000 430 ਚ 47 ਈ ਦੀ Total sales revenue 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 ਜੇ ਚ 17 145,000 105,000 $ 65,000 $ 105,000 $ 320,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Inc. Traditional Income Statement Sales $ 1,247,000 280,000 967,000 Cost of goods sold Gross margin Selling and administrative expenses: Administrative expenses Selling expenses Net operating income

Answer 1

Units sold = 1247000/430 = 2900 1247000 280000 967000 The Alpine House Inc Traditional Income Statement sales Revneue Cost of Goods Sold Gross Margin selling and Administrative Expenses Selling Expenses Selling Expenses (2900*47+145000) 281300 Administrative Expenses (2900*17+105000) 154300 Total Selling and Administrative Expenses Net operating income 435600 531400 Beginning inventoy Add: Purchases Less: Ending invenotry Cost of Goods sold 65000 320000 105000 280000