As a special service, the store offers free popcorn and sodas for customers waiting in line at the checkout desk. (note: the person who is currently being served is too busy with paying to eat or drink.) the store owner estimates that every minute of customer waiting time costs the store 75 cents because of the consumed food. assume an hourly wage rate of $10 per hour. what is the total cost, i. e. the customer waiting cost and employee wages

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.