Business, 07.06.2020 21:57 mem8163

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount
Sales$1,260,000
Selling price per pair of skis$450
Variable selling expense per pair of skis$50
Variable administrative expense per pair of skis$19
Total fixed selling expense$155,000
Total fixed administrative expense$105,000
Beginning merchandise inventory$70,000
Ending merchandise inventory$105,000
Merchandise purchases$285,000

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?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 19:40

Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?

Answers: 3

Answer

Business, 22.06.2019 03:00

If you were running a company, what are at least two things you could do to improve its productivity.

Answers: 1

Answer

Business, 22.06.2019 11:40

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

Answers: 3

Answer

Business, 22.06.2019 19:20

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as

Answers: 2

Answer

You know the right answer?

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

Questions