Homework Answers
Income statement
| Sales | 1450000 | |
| Cost of goods sold | ||
| Beginning inventory | 240000 | |
| Purchase | 950000 | |
| Goods available for sale | 1190000 | |
| Less: Ending inventory | -170000 | |
| Cost of goods sold | 1020000 | |
| Gross profit | 430000 | |
| Selling and administrative expense | ||
| Selling expense | 210000 | |
| Administrative expense | 180000 | |
| Total Selling and administrative expense | 390000 | |
| Operating income | 40000 |
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3. Last month CyberGames. a computer game retailer, had total sales of $1,450,000, selling expenses of...
Constructing an Income Statement [L05 – CC9, 10; L06 - CC11] Last month Bims, a wedding...
Constructing an Income Statement [L05 – CC9, 10; L06 - CC11] Last month Bims, a wedding dress retailer, had total sales of $3,000,000, selling expenses of $315,000, and administrative expenses of $385,000. The company had beginning merchandise inventory of $250,000, purchased additional merchandise inventory for $950,000, and had ending merchandise inventory of $100,000. Required: Prepare an income statement for the company for the month in good form.
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
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
$
1,320,000
Selling price per pair of skis
$
440
Variable selling expense per pair of skis
$
46
Variable administrative expense per pair of skis
$
18
Total fixed selling expense
$
140,000
Total fixed administrative expense
$
130,000
Beginning merchandise inventory
$
75,000
Ending merchandise inventory
$
110,000
Merchandise purchases
$
310,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1,247,000 430 ਚ 47 ਈ ਦੀ Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ਜੇ ਚ 17 145,000 105,000 $ 65,000 $ 105,000...
he Alpine House, Inc, is a large retailer of snow skis, The company assembled the information...
he Alpine House, Inc, is a large retailer of snow skis, The company assembled the information shown below for the quarter ended March 31 Amount $1,276,000 $440 Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of Total fixed selling expense Total fixed administrative expense 48 $19 S 145,000 $ 120,000 S 65,000 $ 110,000 $ 285,000 Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required 1. Prepare...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $30 $4 $2 $40,000 $30,000 $24,000 $44,000 $180,000 2. Prepare a contribution format income statement Cherokee, Inc. Contribution Format Income Statement Sales. Variable expenses: Cost of goods sold. Selling expense Administrative expenses Fixed expenses: Selling expenses Administrative expenses... Net operating income ....
Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative...
Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ievietes Amount 860,000 430 48 18 135,000 125,000 65,000 110,000 310,000 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...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount $ 1,364,000 440 50 18 155,000 $ 105,000 $ 80,000 $ 115,000 $ 300,000 Required: 1. Prepare a...
Amount 20,000 30 Number of units sold Selling price per unit Variable selling expense per unit...
Amount 20,000 30 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
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 Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fioxed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $1,419,000 $430 49 17 S 160,000 S 105,000 S 80,000 S 100,000 s 290,000 Required: 1....
3 The Alpine House, Inc., is a large retailer of snow skis. The company assembled the...
3 The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: 10 points Amount $ 1,215,000 Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense 450 48 15 150,000 110,000 65,000 eBook Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 110,000 310,000 Hint Required: 1. Prepare...
Constructing an Income Statement [L05 – CC9, 10; L06 - CC11] Last month Bims, a wedding dress retailer, had total sales of $3,000,000, selling expenses of $315,000, and administrative expenses of $385,000. The company had beginning merchandise inventory of $250,000, purchased additional merchandise inventory for $950,000, and had ending merchandise inventory of $100,000. Required: Prepare an income statement for the company for the month in good form.
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
$
1,320,000
Selling price per pair of skis
$
440
Variable selling expense per pair of skis
$
46
Variable administrative expense per pair of skis
$
18
Total fixed selling expense
$
140,000
Total fixed administrative expense
$
130,000
Beginning merchandise inventory
$
75,000
Ending merchandise inventory
$
110,000
Merchandise purchases
$
310,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1,247,000 430 ਚ 47 ਈ ਦੀ Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ਜੇ ਚ 17 145,000 105,000 $ 65,000 $ 105,000...
he Alpine House, Inc, is a large retailer of snow skis, The company assembled the information shown below for the quarter ended March 31 Amount $1,276,000 $440 Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of Total fixed selling expense Total fixed administrative expense 48 $19 S 145,000 $ 120,000 S 65,000 $ 110,000 $ 285,000 Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required 1. Prepare...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $30 $4 $2 $40,000 $30,000 $24,000 $44,000 $180,000 2. Prepare a contribution format income statement Cherokee, Inc. Contribution Format Income Statement Sales. Variable expenses: Cost of goods sold. Selling expense Administrative expenses Fixed expenses: Selling expenses Administrative expenses... Net operating income ....
Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ievietes Amount 860,000 430 48 18 135,000 125,000 65,000 110,000 310,000 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...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount $ 1,364,000 440 50 18 155,000 $ 105,000 $ 80,000 $ 115,000 $ 300,000 Required: 1. Prepare a...
Amount 20,000 30 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional...
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 Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fioxed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $1,419,000 $430 49 17 S 160,000 S 105,000 S 80,000 S 100,000 s 290,000 Required: 1....
3 The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: 10 points Amount $ 1,215,000 Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense 450 48 15 150,000 110,000 65,000 eBook Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 110,000 310,000 Hint Required: 1. Prepare...
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