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Lola1 Lola1
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A year ago

Fanelli Corporation, a merchandising company, reported the following results for July:

Number of units sold5,700
Selling price per unit$ 600
Unit cost of goods sold$ 409
Variable selling expense per unit$ 64
Total fixed selling expense$ 125,200
Variable administrative expense per unit$ 20
Total fixed administrative expense$ 207,100


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.

Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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hfrankoshfrankos
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