Exercise $1-15($Algo$)$ Traditional and Contribution Format Income Statements $[$LO$1-6]$

The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March $31$:

Amount

Sales $ $1,376,000$

Selling price per pair of skis $ $430$

Variable selling expense per pair of skis $ $50$

Variable administrative expense per pair of skis $ $16$

Total fixed selling expense $ $145,000$

Total fixed administrative expense $ $100,000$

Beginning merchandise inventory $ $65,000$

Ending merchandise inventory $ $105,000$

Merchandise purchases $ $315,000$

Required:

$1.$ Prepare a traditional income statement for the quarter ended March $31.$

$2.$ Prepare a contribution format income statement for the quarter ended March $31.$

$3.$ What was the contribution margin per unit?