XYZ Corporation reported the following results for July: Number of units sold 5,300 $590 $403 Selling...

 

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XYZ Corporation reported the following results for July: Number of units sold 5,300 $590 $403 Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense $58 $124,400 $22 $206,300 Required for Section Two: SHOW WORK BELOW 1. Prepare a traditional format income statement for July. 2. Prepare a contribution format income statement for July. NOTE: TRADITIONAL FORMAT AND CONTRIBUTION FORMAT INCOME STATEMENTS IN THE LECTURE AND ON PAGE 17 OF TEXTBOOK TRADITIONAL FORMAT INCOME STATEMENT (SHOW WORK BELOW) CONTRIBUTION FORMAT INCOME STATEMENT (SHO w WORK BELOW) XYZ Corporation reported the following results for July: Number of units sold 5,300 $590 $403 Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense $58 $124,400 $22 $206,300 Required for Section Two: SHOW WORK BELOW 1. Prepare a traditional format income statement for July. 2. Prepare a contribution format income statement for July. NOTE: TRADITIONAL FORMAT AND CONTRIBUTION FORMAT INCOME STATEMENTS IN THE LECTURE AND ON PAGE 17 OF TEXTBOOK TRADITIONAL FORMAT INCOME STATEMENT (SHOW WORK BELOW) CONTRIBUTION FORMAT INCOME STATEMENT (SHO w WORK BELOW)

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Answer Requirement 1 Traditional Format Income Statement Sales R... View the full answer