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Required 1 Required 2 Problem 1-25 Traditional and Contribution Format Income Statements...

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Accounting

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Problem 1-25 Traditional and Contribution Format Income Statements [LO1-6] Milden Company is a merchandiser that plans to sell 43,000 units during the next quarter at a selling price of $60 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense De Cost Formula $31 per unit sold $187,000 per quarter 601 Sales $45,000 per quarter $4.00 per unit sold $97,000 per quarter $10,700 per quarter $67,000 per quarter preciation expense Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. Complete this question by entering your answers in the tabs below Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses Total variable expenses Contribution margin Fixed expenses: 0 Total fixed expenses 0 Milden Company Traditional Format Income Statement For the Next Quarter Selling and administrative expenses: Total selling and administrative expenses 0

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