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Milden Company is a merchandiser that plans to sell 43,000 units during the next quarter...

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Accounting

Milden Company is a merchandiser that plans to sell 43,000 units during the next quarter at a selling price of $67 per unit. The company also gathered the following cost estimates for the next quarter:
Cost
Cost of good sold Cost Formula
Advertising expense $34 per unit sold
Sales commissions ,$190,000 per quarter
Shipping expense ,5% of sales
Administrative salaries $36,000 per quarter +$4.00 per unit sold
Insurance expense $100,000 per quarter
\table[[Depreciation expense,$11,000 per quarter],[70,000 per quarter,]]
Required:
Prepare a contribution format income statement for the next quarter.
Prepare a traditional format income statement for the next quarter.
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