Milden Company is a merchandiser that plans to sell 41,000 units during the next quarter at a selling price of $66 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost Formula Cost of good sold $33 per unit sold Advertising expense $189,000 per quarter Sales commissions 6% of sales Shipping expense $39,000 per quarter + $4.00 per unit sold Administrative salaries $99,000 per quarter Insurance expense $10,900 per quarter Depreciation expense $69,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.