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Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:...

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Accounting

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Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 435,000 $ 29,000 $ 290,000 $ 14,500 ? $ 17,400 $ 21,750 ? $ 87,000 $ 26,100 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 to 5 Req 6 Prepare a contribution format income statement. $ 435,000 Todrick Company Contribution Format Income Statement Sales Variable expenses: Cost of goods sold $ 304,500 Selling expense 21,750 Administrative expense 21,750 348,000 Fixed expenses: 0 Net operating income

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