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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 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 traditional format income statement for July. Fanelli Corporation For the month of July Traditional Income Statement Selling and administrative expenses: Required A $ 417 $58 $ 126,000. $ 26 $ 207,900 Required B >

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