Question: Please answer the red crossed once's only #2 Operating, #3 and #4 only. Others I got them right Please include formula Winter Leisure is a

 Please answer the red crossed once's only #2 Operating, #3 and#4 only. Others I got them right Please include formula Winter Leisure

Please answer the red crossed once's only

#2 Operating, #3 and #4 only. Others I got them right

Please include formula

Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Total sales revenue 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 Amount $1,600,000 $ 400 $ 40 $ 10 $ 480,000 $ 450,000 $ 100,000 $ 120,000 $360,000 Required: 1. Prepare a traditional income statement for the quarter ended December 31. Winter Leisure Traditional Income Statement Quarter ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses $ 640,000 Administrative expenses 490,000 Operating income $ 1,600,000 340,000 1,260,000 1,130,000 $ 130,000 2. Prepare a contribution format income statement for the quarter ended December 31. Winter Leisure Contribution Format Income Statement Quarter ended December 31 Sales $ 1,600,000 Variable expenses: Cost of goods sold $ 340,000 Selling expenses 160,000 Administrative expenses 40,000 $ 540,000 Contribution margin Fixed expenses Selling expenses $ 480,000 Administrative expenses 450,000 $ 930,000 Operating loss $ 390,000 3. What was the contribution toward fixed expenses and ofits for each snowboard sold during the quarter? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Contribution $ 14 per snowboard t * 4. What would operating income be if only 3,500 snowboards were sold in a quarter? You can assume no change to fixed expenses will occur if sales decline to 3,500 snowboards. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

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