milden company is a merchandiser that plans to sell 41,000 units during the next quarter...
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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 goods 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: Prepare a contribution format income statement for the next quarter. Prepare a traditional format income statement for the next quarter
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