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The Old Fashioned Ice Cream Shoppe sold 8,700 servings of ice cream during June for...

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Accounting

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The Old Fashioned Ice Cream Shoppe sold 8,700 servings of ice cream during June for $5 per serving. The shop purchases the ice cream in large tubs from the Creamy Ice Cream Company. Each tub costs the shop $11 and has enough ice cream to fill 20 ice cream cones. The shop purchases the ice cream cones for $0.15 each from a local warehouse club. Located in an outdoor mall, the rent for the shop space is $1,900 per month. The shop expenses $290 a month for the depreciation of the shop's fumiture and equipment. During June, the shop incurred an additional $2,500 of other operating expenses ( 75% of these were fixed costs). Read the requirements. Requirement 2. Prepare The Old Fashioned lce Cream Shoppe's June income statement using a contribution margin format. The Old Fashioned Ice Cream Shoppe

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