56 + Page view All Read aloud Add text Dra todrick PROBLEM 1-19 Traditional and Contribution Format Income Statements LO1-6 Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $300,000 $20,000 Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense. Required: Fixed administrative expense Variable selling expense Variable administrative experise. Contribution margin Net operating income. 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. Chapter 11 $200,000 $7,000 $12,000 $15,000 $60.000 $18,000 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