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Posted: **Sun Jul 03, 2022 1:17 pm**

: Number Of Units Sold Selling Price Per Unit Variable Selling Expense Per Unit Variable Administrative Expense Per Unit T 1 (66.51 KiB) Viewed 11 times

: Number Of Units Sold Selling Price Per Unit Variable Selling Expense Per Unit Variable Administrative Expense Per Unit T 2 (57.04 KiB) Viewed 11 times

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 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Net operating income $ $ Complete this question by entering your answers in the tabs below. Amount 14,000 16 2 2 $ $ 20,000 $ 16,000 $ 11,000 $ 23,000 $ 85,000 Saved 0
Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses: Cost of goods sold Fixed expenses: Fixed manufacturing overhead 2 $ 20,000 16,000 $ $ 11,000 $ 23,000 $ 85,000 Fixed manufacturing overhead Net operating income 0 0