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Crazy Canucks is a small, family-owned retailer...

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Accounting

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Crazy Canucks is a small, family-owned retailer specializing in alpine ski and snowboard equipment located in Squamish, B.C. An income statement for the ski department's most recent month is shown below. Skis sell, on average, for $1,500 per pair. Variable selling expenses are $150 per pair of skis sold. The remaining selling expenses are ixed. The administrative expenses are 20% variable and 80% fixed. The company purchases its skis from several suppliers at an iveroge cost of $900 per pair. Pequired: Prepare an income stotement for the month using the contribution opprooch. Required: 1. Prepare an income statement for the month using the contribution approach. 2. For every pair of skis sold during January, what was the contribution toward covering fixed expenses and toward earning profits 3. What would the total contribution margin be in a month where 150 pairs of skis were sold

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