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Honey Corporation, a merchandising company, reported the following results for January: Number of units sold...

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Accounting

Honey Corporation, a merchandising company, reported the following results for January:

Number of units sold 5800

Selling price per unit $892

Unit cost of goods sold $517

Variable selling expense per unit $31

Total fixed selling expense $152600

Variable administrative expense per unit $48

Total fixed administrative expense $390200

NOTE: Cost of goods sold is a variable cost in this company.

Required:

a. Prepare a traditional format income statement for January.

b. Prepare a contribution format income statement for January.

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