EXERCISE 1-15 Traditional and Contribution Format Income Statements L01-6 The Alpine House, Inc., is a large...

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EXERCISE 1-15 Traditional and Contribution Format Income Statements L01-6 The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 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? Amount $150,000 $750 $50 $10 $20,000 $20,000 $30,000 $40,000 $100,000 EXERCISE 1-15 Traditional and Contribution Format Income Statements L01-6 The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 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? Amount $150,000 $750 $50 $10 $20,000 $20,000 $30,000 $40,000 $100,000