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Business, 18.02.2021 21:30 mvongphakdy8746

Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 6,800 Selling price per unit $ 610 Unit cost of goods sold $ 420 Variable selling expense per unit $ 64 Total fixed selling expense $ 126,300 Variable administrative expense per unit $ 32 Total fixed administrative expense $ 208,200 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income statement for July.

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