The Alpine House, Inc., is a large retailer of snow skis. The company assembled

Question

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

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

Prepare a contribution format income statement for the quarter ended March 31. (Round your answer to nearest whole dollar.)

What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter? (Round your answer to the nearest whole dollar.)

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

Explanation / Answer

Income Statement Traditional Sales 943000 less: Purchase 290000 Variable administrative ecxpense 39100 Fixed Administrative expense 110000 Opening merchandise 65000 Less: closing merchandise -115000 Cost of Goods Sold 389100 Gross Profit 553900 Variable Selling expenses 112700 Fixed Selling expense 130000 Net Income 311200 Income Statement Variable Costing Sales 943000 less: Purchase 290000 Variable administrative ecxpense 39100 Opening merchandise 65000 Less: closing merchandise -115000 Cost of Goods Sold 279100 Gross Profit Contribution 663900 Fixed Administrative expense 110000 Variable Selling expenses 112700 Fixed Selling expense 130000 Net Income 311200 Contribution 663900 Fixed expense 240000 Contribution cover on fixed expense 2.77

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