Cherokee Incorporated is a merchandiser that provided the following information: Amount 13,000 $ 17 $2 52 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 21,000 $ 14,000 $9,000 $ 25,000 $ 89,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement Complete this question by entering your answers in the tabs below.
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- Cherokee Incorporated is a merchandiser that provided the following information: Amount 11,000 $ 17 $1 $1 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: $ 18,000 $ 14,000 $ 8,000 $ 25,000 $ 85,000Cherokee Incorporated is a merchandiser that provided the following information: Amount 12,000 $ 17 $2 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement $ 19,000 $ 14,000 $9,000 $ 23,000 $ 86,000 Selling and administrative expenses:Cherokee Incorporated is a merchandiser that provided the following information: Amount 14,000 $ 17 $ 1 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: $ 22,000 $ 14,000 $ 10,000 Required 1 $ 24,000 $ 85,000 Required 2 >
- A Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Amount 12,000. $17 $2 $2 $ 19,000 $ 13,000 $ 9,000 $ 24,000 $ 86,000Cherokee Incorporated is a merchandiser that provided the following information: Amount 13,000 $ 18 $2 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Required 1 Required 2 Variable expenses: Fixed expenses: ✓ ✔ *********---------- ✓$ • 45,000 $ 19,000 $ 16,000 $ 10,000 $ 25,000 $ 87,000 $ 234,000 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement 26,000 x 208,000 x 45,000 0 0Cherokee Incorporated is a merchandiser that provided the following information: Amount 10,000 $ 17 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a traditional income statement. Complete this question by entering your answers in the tabs below. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses: $1 $2
- Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 12,000 $ $ $ 1 $ 22,000 $ 14,000 $ 10,000 $ 26,000 $ 87,000 18 2 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income! Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost Per Unit Direct materials $ 5.10 Direct labor $ 2.60 $ Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense 1.60 $ 4.00 $ 2.10 $ 2.10 Sales commissions $ 1.10 Variable administrative expense $ 0.55 15. What incremental manufacturing cost will Martinez incur if it increases production from 10,000 to 10,001 units? (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. 2$ 266,014.00 Incremental cost per unit producedA merchandiser that provided the following information: Number of units sold 20,000 Selling price per unit $ 40 Variable selling expense per unit $ 5 Variable administrative expense per unit $ 2 Total fixed selling expense $ 40,000 Total fixed administrative expense $ 40,000 Beginning merchandise inventory $ 28,000 Ending merchandise inventory $ 46,000 Merchandise purchases $ 190,000. Prepare a traditional income statement. 2.Prepare a contribution format income statement.
- Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11,000 Selling price per unit $ 17 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 2 Total fixed selling expense $ 18,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 12,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 86,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 11,000 Selling price per unit $ 17.00 Variable selling expense per unit $ 1.00 Variable administrative expense per unit $ 1.00 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 10,000 Ending merchandise inventory $ 26,000 Merchandise purchases $ 90,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 20,000 Selling price per unit $ 30 Variable selling expense per unit $ 4 Variable administrative expense per unit $ 2 Total fixed selling expense $ 40,000 Total fixed administrative expense $ 30,000 Beginning merchandise inventory $ 24,000 Ending merchandise inventory $ 44,000 Merchandise purchases $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.