ABC Corporation, a merchandising company, reported the following results for September:
Sales: 12,500 units
Sales price L $899 per unit
cost of good sold (all variable): $225 per unit
variable selling expense: $78 pe runit
total fixed selling expense: $230,000
variable admin expense: $23 per unit
total fixed admin expense: $455,000
Required:
a. Prepare a traditional format income statement for September.
b. Prepare a contribution format income statement for September.