# [Question & Answer] The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter end…..

the alpine house inc is a large retailer of snow skis

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[Question & Answer] The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter end…..
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the alpine house inc is a large retailer of snow skis

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Prepare a traditional income statement for the quarter ended March 31.

Prepare a contribution format income statement for the quarter ended March 31. (Round your answer to nearest whole dollar.) What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter? (Round your answer to the nearest whole dollar.)

the alpine house inc is a large retailer of snow skis

 The Alpine House, Inc. Traditional Income Statement Sales revenue 861000 Cost of goods sold 275000 Gross profit 586000 Selling and administrative expenses: Variable selling expenses (2100 x \$45) 94500 Fixed selling expenses 155000 Variable administrative expenses (2100 x \$17) 35700 Fixed administrative expenses 105000 390200 Net income 195800

b.

the alpine house inc is a large retailer of snow skis

 The Alpine House, Inc. Contribution Format Income Statement Sales revenue 861000 Variable expenses: Cost of goods sold 275000 Selling expenses 94500 Administrative expenses 35700 405200 Contribution margin 455800 Fixed expenses: Selling expenses 155000 Administrative expenses 105000 260000 Net income 195800

c. Contribution toward fixed expenses and profits for each pair of skis sold during the quarter = Contribution margin / Number of pairs of skis sold = \$455800 / 2100 pairs = \$217

Calculations:

Number of pairs of skis sold = Total sales revenue / Selling price per pair of skis = \$861000 / 410 = 2100 pairs

Cost of goods sold:

 Beginning merchandise inventory 65000 Add Merchandise purchases 315000 Cost of goods available for sale 380000 Less Ending merchandise inventory 105000 Cost of goods sold 275000

the alpine house inc is a large retailer of snow skis

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