Cost Formula 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 $933 per month $4,828 per month, plus 5% of sales $63 per piano sold $641 per month $ 4,903 per month $ 13,546 per month $ 716 per month $ 2,492 per month, plus $37 per piano sold $945 per month During August, Marwick's Pianos, Inc., sold and delivered 64 pianos. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: 0 Total selling expenses Administrative expenses: 0 Total administrative expenses Total selling and administrative expenses the Month OT August Total Per Piano Variable expenses: Total variable expenses 0 0 Contribution margin Fixed expenses: Total fixed expenses O During August, Marwick's Pianos, Inc., sold and delivered 64 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. Cost Formula costs elling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities administrative: Executive salaries Insurance Clerical Depreciation of office equipment $933 per month $4,828 per month, plus 5 $63 per piano sold $ 641 per month $ 4,903 per month $13,546 per month $716 per month $ 2,492 per month, plus $3 $945 per month aring August. Marwick's Pianos Inc sold and delivered 6 ninnor Cost Formula 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 $933 per month $4,828 per month, plus 5% of sales $63 per piano sold $641 per month $ 4,903 per month $ 13,546 per month $ 716 per month $ 2,492 per month, plus $37 per piano sold $945 per month During August, Marwick's Pianos, Inc., sold and delivered 64 pianos. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: 0 Total selling expenses Administrative expenses: 0 Total administrative expenses Total selling and administrative expenses the Month OT August Total Per Piano Variable expenses: Total variable expenses 0 0 Contribution margin Fixed expenses: Total fixed expenses O During August, Marwick's Pianos, Inc., sold and delivered 64 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. Cost Formula costs elling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities administrative: Executive salaries Insurance Clerical Depreciation of office equipment $933 per month $4,828 per month, plus 5 $63 per piano sold $ 641 per month $ 4,903 per month $13,546 per month $716 per month $ 2,492 per month, plus $3 $945 per month aring August. Marwick's Pianos Inc sold and delivered 6 ninnor