Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December...

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Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Amount Total sales revenue $1,421,000 $ $ Selling price per snowboard Variable selling expense per snowboard Variable administrative expense per snowboard Total fixed selling expense Total fixed administrative expense Merchandise inventory, beginning balance Merchandise inventory, ending balance Merchandise purchases 490 60 30 2$ $ 390,000 $ 360,000 $ 89,000 $ 109,000 $ 339,000 Required: 1. Prepare a traditional income statement for the quarter ended December 31. Winter Leisure Traditional Income Statement Quarter ended December 31 Selling and administrative expenses: 2. Prepare a contribution format income statement for the quarter ended December 31. Winter Leisure Contribution Format Income Statement Quarter ended December 31 Variable expenses: $ Fixed expenses: $ 3. What was the contribution toward fixed expenses and profits for each snowboard sold during the quarter? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Contribution per snowboard 4. What would operating income be if only 2,400 snowboards were sold in a quarter? You can assume no change to fixed expenses will occur if sales decline to 2,400 snowboards. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Amount Total sales revenue $1,421,000 $ $ Selling price per snowboard Variable selling expense per snowboard Variable administrative expense per snowboard Total fixed selling expense Total fixed administrative expense Merchandise inventory, beginning balance Merchandise inventory, ending balance Merchandise purchases 490 60 30 2$ $ 390,000 $ 360,000 $ 89,000 $ 109,000 $ 339,000 Required: 1. Prepare a traditional income statement for the quarter ended December 31. Winter Leisure Traditional Income Statement Quarter ended December 31 Selling and administrative expenses: 2. Prepare a contribution format income statement for the quarter ended December 31. Winter Leisure Contribution Format Income Statement Quarter ended December 31 Variable expenses: $ Fixed expenses: $ 3. What was the contribution toward fixed expenses and profits for each snowboard sold during the quarter? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Contribution per snowboard 4. What would operating income be if only 2,400 snowboards were sold in a quarter? You can assume no change to fixed expenses will occur if sales decline to 2,400 snowboards. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

Answer rating: 100% (QA)

a Tradiitional income statement Sales 1421000 Cost of goods sold 89000... View the full answer