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28 Sep 2019
Cherokee Inc. is a merchandiser that provided the followinginformation: Number of units sold 20,000 Selling price per unit $30 Variable selling expense per unit $ 4 Variable administrativeexpense per unit $ 2 Total fixed selling expense $ 40,000 Totalfixed administrative expense $ 30,000 Beginning merchandiseinventory $ 24,000 Ending merchandise inventory $ 44,000Merchandise purchases $ 180,000 Required
1) Prepare a traditional income statement.
2 )Prepare a contribution formatincome statement.
Cherokee Inc. is a merchandiser that provided the followinginformation: Number of units sold 20,000 Selling price per unit $30 Variable selling expense per unit $ 4 Variable administrativeexpense per unit $ 2 Total fixed selling expense $ 40,000 Totalfixed administrative expense $ 30,000 Beginning merchandiseinventory $ 24,000 Ending merchandise inventory $ 44,000Merchandise purchases $ 180,000 Required
1) Prepare a traditional income statement.
2 )Prepare a contribution formatincome statement. |
Hubert KochLv2
28 Sep 2019