question archive Urban Sombrero Corporation reported the following results for February: Number of units sold 850 Selling price per unit 675 Cost of goods sold per unit 435 Variable Selling expense per unit 55 Total fixed selling costs 49,280 Variable administrative expense per unit 35 Total fixed adminsitrative expense 35,000 Please create the following formats for their Income Statement: Traditional format income statement Contribution format income statement

Urban Sombrero Corporation reported the following results for February: Number of units sold 850 Selling price per unit 675 Cost of goods sold per unit 435 Variable Selling expense per unit 55 Total fixed selling costs 49,280 Variable administrative expense per unit 35 Total fixed adminsitrative expense 35,000 Please create the following formats for their Income Statement: Traditional format income statement Contribution format income statement

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Urban Sombrero Corporation reported the following results for February:

Number of units sold 850

Selling price per unit 675

Cost of goods sold per unit 435

Variable Selling expense per unit 55

Total fixed selling costs 49,280

Variable administrative expense per unit 35

Total fixed adminsitrative expense 35,000

Please create the following formats for their Income Statement:

  • Traditional format income statement
  • Contribution format income statement

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