Exercise 1-15 Traditional and Contribution Format Income Statements [LO1-6] The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 150,000
Selling price per pair of skis $ 750
Variable selling expense per pair of skis $ 50
Variable administrative expense per pair of skis $ 10
Total fixed selling expense $ 20,000
Total fixed administrative expense $ 20,000
Beginning merchandise inventory $ 30,000
Ending merchandise inventory $ 40,000
Merchandise purchases $ 100,000
Required:
1. Prepare a traditional income statement for the quarter ended March 31.
2. Prepare a contribution format income statement for the quarter ended March 31.
3. What was the contribution margin per unit