The Fredbear Company reported the following results for July: Selling price per unit $650 Number of units sold 4,200 Unit cost of goods sold $455 Total fixed selling expense $132,200 Total fixed admin expense $195,800 Variable admin expense per unit $25 Variable selling expenses per unit $61 Required: a) Prepare a traditional format income statement for July. b) Prepare a contribution format income statement for July
The Fredbear Company reported the following results for July: Selling price per unit $650 Number of units sold 4,200 Unit cost of goods sold $455 Total fixed selling expense $132,200 Total fixed admin expense $195,800 Variable admin expense per unit $25 Variable selling expenses per unit $61 Required: a) Prepare a traditional format income statement for July. b) Prepare a contribution format income statement for July
Chapter10: Inventory
Section: Chapter Questions
Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...
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Please do not give solution in image format thanku
![The Fredbear Company reported the
following results for July:
Selling price per unit $650
Number of units sold 4,200
Unit cost of goods sold $455
Total fixed selling expense $132,200
Total fixed admin expense $195,800
Variable admin expense per unit $25
Variable selling expenses per unit $61
Required:
a) Prepare a traditional format income
statement for July.
b) Prepare a contribution format income
statement for July
alling](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F867aa6ac-eeb6-4ddd-a4b3-29dfc5fd7305%2F1bb5c153-7300-4369-9f45-24a53be6159b%2Fn7pivss_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Fredbear Company reported the
following results for July:
Selling price per unit $650
Number of units sold 4,200
Unit cost of goods sold $455
Total fixed selling expense $132,200
Total fixed admin expense $195,800
Variable admin expense per unit $25
Variable selling expenses per unit $61
Required:
a) Prepare a traditional format income
statement for July.
b) Prepare a contribution format income
statement for July
alling
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