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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the...

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Question

Accounting

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:

Amount

Sales

$

219,300

Sales in units

215 pairs

Selling price per pair of skis

$

1,020

Variable selling expense per pair of skis

$

88

Variable administrative expense per pair of skis

$

15

Total fixed selling expense

$

33,000

Total fixed administrative expense

$

39,000

Beginning merchandise inventory

$

30,000

Ending merchandise inventory

$

40,000

Merchandise purchases

$

115,000

Note: to calculate COGS you will need to use the following equation: Beg. Merch. Inventory + Merch. Purchases End. Merch. Inventory. COGS is a variable expense.

Required:

1. Prepare a traditional income statement for the quarter ended March 31.

2. Prepare a contribution format income statement for the quarter ended March 31.

3. What was the contribution margin per unit?

Answer & Explanation Solved by verified expert
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