Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 98,000 Less cost of goods sold ($58 per unit) 56,840 Gross margin 41,160 Less operating costs: Commissions expense ($5 per unit) $ 4,900 Salaries expense 7,900 Advertising expense 5,800 Shipping expense ($3 per unit) 2,940 21,540 Operating income $ 19,620
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Home » Business » Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 98,000 Less cost of goods sold ($58 per unit) 56,840 Gross margin 41,160 Less operating costs: Commissions expense ($5 per unit) $ 4,900