Business, 02.09.2021 15:20, b4b4b4

Milden Company is a merchandiser that plans to sell 23,000 units during the next quarter at a selling price of $51 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost Formula Cost of good sold $21 per unit sold Advertising expense $171,000 per quarter Sales commissions 6% of sales Shipping expense $42,000 per quarter $ 7.00 per unit sold Administrative salaries $81,000 per quarter Insurance expense $9,100 per quarter Depreciation expense $51,000 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.

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Milden Company is a merchandiser that plans to sell 23,000 units during the next quarter at a sellin...