Business, 12.02.2021 07:30 khanhlan7213

Quince Products is a merchandiser that sells specialty fruit jams. The following information is provided by Quince Products: Amount Number of units sold 10,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 1 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 15,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 22,000 Merchandise purchases $ 86,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.

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Quince Products is a merchandiser that sells specialty fruit jams. The following information is prov...

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