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Number of units sold ...................35,000 Selling price per unit ................... $40...

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Accounting

Number of units sold ...................35,000
Selling price per unit ................... $40
Variable selling expense per unit ........ $3
Variable administrative expense per unit .. $1
Total fixed selling expense .............. $45,000
Total fixed administrative expense ....... $28,000
Beginning merchandise inventory ........ $21,000
Ending merchandise inventory .......... $35,000
Merchandise purchases ................ $805,000
Review Problem 2: Income Statement Formats
McFarland, Inc., is a merchandiser that provided the following information:
Required:
1. Prepare a traditional income statement.

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