Crazy Canucks is a small, famlly owned retailer specializing in alpine skl and snowboard equipment...
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Accounting
Crazy Canucks is a small, famlly owned retailer specializing in alpine skl 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 ayerage, for $1,500 per pair. Variable selling expenses are $154 per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are 20% varlable and 80% fixed. The company purchases its skis from several suppliers at an average cost of $900 per pair. Required: 1. Prepare an income statement for the month using the contribution approach. 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 2. For every pair of skis sold during January. what was the contribution toward covering foxed expenses and toward earning profits? 3. What would the total contribution magin be in a month where 1:54 pais of skis were sold
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