Marwick$$s Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $$1,505$ per unit and then sells them to retail customers for an average price of $$2,800$ each. The company$$s selling and administrative costs for a typical month are presented below:

Costs Cost Formula

Selling:

Advertising $$930$ per month

Sales salaries and commissions $$4,813$ per month, plus $5\%$ of sales

Delivery of pianos to customers $$61$ per piano sold

Utilities $$655$ per month

Depreciation of sales facilities $$4,921$ per month

Administrative:

Executive salaries $$13,445$ per month

Insurance $$691$ per month

Clerical $$2,485$ per month, plus $$38$ per piano sold

Depreciation of office equipment $$897$ per month

During August, Marwick$$s Pianos, Incorporated, sold and delivered $58$ 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.