Ask Question
14 February, 15:31

Current Attempt in Progress Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 66,000 Less cost of goods sold ($56 per unit) 36,960 Gross margin 29,040 Less operating costs: Commissions expense ($6 per unit) $ 3,960 Salaries expense 7,900 Advertising expense 5,800 Shipping expense ($3 per unit) 1,980 19,640 Operating income $ 9,400

+2
Answers (1)
  1. 14 February, 19:02
    0
    Contribution Margin Income Statement for the year end MM DD, YY

    $ $

    Sales revenue ($100 per unit) 66,000

    Less: Variable Cost

    Less cost of goods sold ($56 per unit) 36,960

    Commissions expense ($6 per unit) 3,960

    Shipping expense ($3 per unit) 1,980

    42,900

    Contribution Margin 23,100

    Less: Fixed Cost

    Salaries expense 7,900

    Advertising expense 5,800

    13,700

    Net Income 9,400
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Current Attempt in Progress Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers