Business, 24.09.2020 14:01, harveyangel123p2tjae
Milden Company is a merchandiser that plans to sell 33,000 units during the next quarter at a selling price of $59 per unit. The company also gathered the following cost estimates for the next quarter.
Cost Cost Formula
Cost of good sold $29 per unit sold
Advertising expense $179,000 per quarter
Sales commissions 6% of sales
Shipping expense $19,000 per quarter $6.00 per unit sold
Administrative salaries $89,000 per quarter
Insurance expense $9,900 per quarter
Depreciation expense $59,000 per quarter
Required:
1. Prepare a contribution format income statement for the next quarter.
2. Prepare a traditional format income statement for the next quarter.
Answers: 3
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