{"id":35457,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/prepare-a-traditional-and-contribution-income-statement"},"modified":"2017-08-16T06:32:49","modified_gmt":"2017-08-16T06:32:49","slug":"prepare-a-traditional-and-contribution-income-statement","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/prepare-a-traditional-and-contribution-income-statement\/","title":{"rendered":"Prepare a traditional and contribution income statement"},"content":{"rendered":"<div class=\"the_content_wrapper\">\n<p> The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:<\/p>\n<p>Amount <\/p>\n<p>Total sales revenue $ 1,276,000 <\/p>\n<p>Selling price per pair of skis $ 440 <\/p>\n<p>Variable selling expense per pair of skis $ 47 <\/p>\n<p>Variable administrative expense per pair of skis $ 19 <\/p>\n<p>Total fixed selling expense $ 155,000 <\/p>\n<p>Total fixed administrative expense $ 100,000 <\/p>\n<p>Beginning merchandise inventory $ 75,000 <\/p>\n<p>Ending merchandise inventory $ 105,000 <\/p>\n<p>Merchandise purchases $ 320,000<\/p>\n<p>1. Prepare a traditional income statement<\/p>\n<p>2. Prepare a contribution income statement<\/p>\n<p>3. What was the contribution toward fixed expenses and profits for each pair of skis sold?<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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 Total sales revenue $ 1,276,000 Selling price per pair of skis $ 440 Variable selling <a href=\"https:\/\/www.benedictsol.com\/blogs\/prepare-a-traditional-and-contribution-income-statement\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-35457","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/35457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=35457"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/35457\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=35457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=35457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=35457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}