Problem $1-25($Static$)$ Traditional and Contribution Format Income Statements $[$LO$1-6]$

Milden Company is a merchandiser that plans to sell $12,000$ units during the next quarter at a selling price of $$100$ per unit. The company also gathered the following cost estimates for the next quarter:

$\backslash$table$[[$Cost$,$Cost Formula$],[$Cost of goods sold,$$35$ per unit sold$],[$Advertising expense,$$210,000$ per quarter$],[$Sales commissions,$6\%$ of sales$],[$Shipping expense,$$28,000$ per quarter $+$$$9\mathrm{.}10$ per unit sold$],[$Administrative salaries,$$145,000$ per quarter$],[$Insurance expense,$$9,000$ per quarter$],[$Depreciation expense,$$76,000$ per quarter$],[,]]$

Prepare a contribution format income statement for the next quarter.

Prepare a traditional format income statement for the next quarter.

Complete this question by entering your answers in the tabs below.

Prepare a contribution format income statement for the next quarter.

Milden Company

Contribution Format Income Statement

For the Next Quarter