Marwick$$s Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $$1,515$ per unit and then sells them to retail customers for an average price of $$3,000$ each. The company$$s selling and administrative costs for a typical month are presented below:

Costs Cost Formula

Selling:

Advertising $$935$ per month

Sales salaries and commissions $$4,811$ per month, plus $6\%$ of sales

Delivery of pianos to customers $$60$ per piano sold

Utilities $$666$ per month

Depreciation of sales facilities $$5,081$ per month

Administrative:

Executive salaries $$13,557$ per month

Insurance $$718$ per month

Clerical $$2,525$ per month, plus $$38$ per piano sold

Depreciation of office equipment $$892$ per month

During August, Marwick$$s Pianos, Incorporated, sold and delivered $61$ pianos.

Required:

Prepare a traditional format income statement for August.

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.

Note: A "Net operating loss" should be entered as a negative number.