17 Problem 1-21 Traditional and Contribution Format Income Statements [LO1-6] oints Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,484 per unit and then sells them to retail customers for an average price of $2,500 each. The company's selling and administrative costs for a typical month are presented below: Skipped Cost Formula eBook Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance clerical Depreciation of office equipment $ 965 per month $4,811 per month, plus 4% of sales $61 per piano sold $658 per month $4,935 per month Print References $13,552 per month $707 per month $2,453 per month, plus $39 per piano sold $922 per month During August, Marwick's Pianos, Inc., sold and delivered 63 pianos. Required: 1. Prepare a traditional format income statement for August. 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 oints Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) Skipped Marwick's Pianos, Inc. Traditional Income Statement For the Month of August eBook Print References Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: 10 points Skipped 0 Total selling expenses Administrative expenses: eBook Print References Total administrative expenses Total selling and administrative expenses Required 1 Required 2 > 10 points Total variable expenses Contribution margin argin Skipped Fixed expenses: eBook Print References Total fixed expenses