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Crazy Canucks is a small, family-owned retailer specializing in alpine ski and snowboard equipment located in Squamish, B.C. An income statement for the ski department's most recent month is shown below. Operating income. Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses CRAZY CANUCKS Income Statement-Crazy Canucks For the Month Ended January 31 Variable expenses: Crazy Canucks Income Statement-Crazy Canucks For the Month Ended January 31 Fixed expenses: $62,400 20,800 Skis sell, on average, for $1,500 per pair. Variable selling expenses are $158 per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are 20% variable and 80% fixed. The company purchases its skis from several suppliers at an average cost of $900 per pair. $312,000 187,200 124,800 Required: 1. Prepare an income statement for the month using the contribution approach. 83,200 $ 41,600

Crazy Canucks is a small, family-owned retaller specializing in alpine ski and snowboard equipment located in Squamish, B.C. An income statement for the ski department's most recent month is shown below. Skls sell, on average, for $1,500 per pair. Variable selling expenses are $158 per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are 20% variable and 80% fixed. The company purchases its skis from several suppliers at an average cost of $900 per pair. Required: 1. Prepare an income statement for the month using the contribution approach. 2. For every pair of skls sold during January, what was the contribution toward covering flxed expenses and toward earning profits? 3. What would the total contribution margin be in a month where 158 pairs of skis were sold

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