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ThatDudeLv1
5 Jul 2022
Can someone please answer this? The directions are in the photo
Cherokee Incorporated is a merchandiser that provided the following information:
Amount
Number of units sold $ 11,000
Selling price per unit $ 17
Variable selling expense per unit $ 1
Variable administrative expense per unit $ 2
Total fixed selling expense $ 21,000
Total fixed administrative expense $ 13,000
Beginning merchandise inventory $ 11,000
Ending merchandise inventory $ 23,000
Merchandise purchases $ 87,000
Required:
1. Prepare a traditional income statement.
2. Preparé a contribution format income statement.
Complete this question by entering your answers in the tabs below.
Prepare a traditional income statement
Cherokee, Incorporated
Traditional Income Statement
Selling and administrative expenses
Can someone please answer this? The directions are in the photo
Cherokee Incorporated is a merchandiser that provided the following information:
Amount
Number of units sold $ 11,000
Selling price per unit $ 17
Variable selling expense per unit $ 1
Variable administrative expense per unit $ 2
Total fixed selling expense $ 21,000
Total fixed administrative expense $ 13,000
Beginning merchandise inventory $ 11,000
Ending merchandise inventory $ 23,000
Merchandise purchases $ 87,000
Required:
1. Prepare a traditional income statement.
2. Preparé a contribution format income statement.
Complete this question by entering your answers in the tabs below.
Prepare a traditional income statement
Cherokee, Incorporated |
Traditional Income Statement |
Selling and administrative expenses | ||
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learn4lifeLv10
5 Jul 2022
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mathgineerLv1
5 Jul 2022
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