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   Â
  Total sales revenue
$
989,000Â Â
  Selling price per pair of skis
430Â Â
  Variable selling expense per pair of skis
47Â Â
  Variable administrative expense per pair of skis
18Â Â
  Total fixed selling expense
130,000Â Â
  Total fixed administrative expense
125,000Â Â
Beginning merchandise inventory
65,000Â Â
  Ending merchandise inventory
100,000Â Â
  Merchandise purchases
320,000Â Â
Required:
1.
Prepare a traditional income statement for the quarter ended March 31.
    Â
2.
Prepare a contribution format income statement for the quarter ended March 31.
3.
What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter? (Round your final answer to nearest whole dollar amount.)
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here