- Fanelli Corporation A Merchandising Company Reported The Following Results For July Number Of Units Sold Selling Pri 1 (63.82 KiB) Viewed 10 times
- Fanelli Corporation A Merchandising Company Reported The Following Results For July Number Of Units Sold Selling Pri 2 (57.27 KiB) Viewed 10 times
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold. 6,500 $610 $417 Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income statement for July. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a contribution format income statement for July. Fanelli Corporation For the month of July Contribution Format Income Statement Variable expenses: Fixed expenses: < Required A $ 58 $ 126,000 $ 26 $ 207,900 Required B