Skipped eBook Hint Pont References Mc Graw Hill Cherokee Incorporated is a merchandiser that provided the...
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Skipped eBook Hint Pont References Mc Graw Hill Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Amount 11,000 $17 $1 $2 $ 20,000 $ 14,000 $ 9,000 $ 26,000 $ 86,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: Skipped eBook Hint Pont References Mc Graw Hill Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Amount 11,000 $17 $1 $2 $ 20,000 $ 14,000 $ 9,000 $ 26,000 $ 86,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses:
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1 Prepare a traditional income statement for Cherokee Incorporated Sales 11000 units x 17 per unit 187000 Cost of goods sold Beginning merchandise inventory 9000 Ending merchandise inventory 26000 Merchandise purchases 86000 Cost of goods sold Beginning Inventory Purchases Ending Inventory Cost of goods sold 9000 86000 26000 Cost of goods sold 69000 Gross margin Sales Cost of goods sold 187000 69000 118000 Selling and administrative expenses Variable selling expense per unit 1 ... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0077522940
15th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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