[Solved] Prepare a traditional income statement. Prepare a contribution format income statement……

cherokee inc traditional income statement

Prepare a traditional income statement. Prepare a contribution format income statement.

Struggling to find relevant content or pressed for time? – Don’t worry, we have a team of professionals to help you on
[Solved] Prepare a traditional income statement. Prepare a contribution format income statement……
Get a 15% Discount on this Paper
Order Now

Cherokee Inc. is a merchandiser that provided the following information 20,000 $30 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 40,000 $ 30,000 $ 24,000 $44,000 $ 180,000 Required Prepare a traditional income statement Cherokee, Inc Traditional Income Statement Selng and administrative expenses Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses Fixed expenses

cherokee inc. is a merchandiser that provided the following information:

Cherokee Inc. is a merchandiser that provided the following information Required: Prepare a traditional income statement. Prepare a contribution format income statement.

Expert Answer

cherokee inc is a merchandiser that provided the following information

1. Traditional Income statement

Sales (20,000X30) 600000

Cost of goods sold (24,000+180,000-44,000) (160,000)

Gross margin 440,000

Selling and administration expenses:

Selling expenses ( 20,000X4)+ 40,000 120,000

administrative expenses (20,000X2)+30,000 70,000 (190,000)

Net operating income 250,000

2. contribution format income statement

sales (20,000X30) 600,000

variable expenses:

cost of goods sold(24,000+180,000-44,000) (160,000)

selling expenses ( 20,000X4) (80,000) administrative expenses (20,000X2) (40,000)

————–

contribution margin 320,000

Fixed expenses:

selling expenses   40,000

Administrative expenses   30,000   (70,000)

Net operating income 250,000

cherokee inc. is a merchandiser that provided the following information:

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with MyCoursebay
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Nursing
Awesome work!!!!!!
Customer 452453, March 24th, 2021
Social Work and Human Services
The paper is impressive. Very professional and per the instructions
Customer 452533, May 24th, 2021
Technology
Great job on the paper!
Customer 452885, December 14th, 2022
Strategic Management
Thank you very much for the help, really appreciate it
Customer 452821, June 27th, 2022
Social Work and Human Services
Great Work!
Customer 452587, November 2nd, 2021
Other
great
Customer 452813, June 25th, 2022
Social Work and Human Services
Great Job!
Customer 452587, October 27th, 2021
IT, Web
A great job on my paper!! I really appreciate this!!
Customer 452885, January 30th, 2023
Technology
Great job on the paper!!
Customer 452885, December 14th, 2022
IT, Web
Excellent job on the paper!
Customer 452885, December 28th, 2022
Nursing
Thanks
Customer 452521, May 13th, 2021
English 101
The paper was late. However, it was excellent quality.
Customer 452561, July 2nd, 2021
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Get top-notch homework help now. 20% off first 10 orders!

NEW

Thank you for choosing MyCoursebay. Your presence is a motivation to us. All papers are written from scratch. Plagiarism is not tolerated. Order now for a 15% discount

Order Now