Marwicks Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,482 per unit and then sells them to retail customers for an average price of $2,100 each. The companys selling and administrative costs for a typical month are presented below:

CostsCost Formula

Selling:

Advertising$953 per month

Sales salaries and commissions$4,824 per month, plus 4% of sales

Delivery of pianos to customers$62 per piano sold

Utilities$658 per month

Depreciation of sales facilities$4,997 per month

Administrative:

Executive salaries$13,502 per month

Insurance$711 per month

Clerical$2,469 per month, plus $40 per piano sold

Depreciation of office equipment$859 per month

During August, Marwicks Pianos, Inc., sold and delivered 60 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.

During August, Marwick's Pianos, Inc., sold and delivered 60 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. Required 1 Required 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. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total variable expenses Question 5 Chapter 10 - Homework 1- Algorithmic - Connect Chapter 1b - Homework 1 - Algorithmic i Saved 5 Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano 75 points Variable expenses: eBook Print References Total variable expenses Contribution margin Fixed expenses: Total fixed expenses Required i Required 2 Prepare a traditional format income statement for August. (A "Net ope Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses Chapter 1b - Homework 1 - Algorithmic Saved Help Save & Exit & Submit Check my work 5 Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities vel Executive salaries Insurance Clerical Depreciation of office equipment $953 per month $4,824 per month, plus 48 of sales $62 per piano sold $650 per month $4,997 per month 75 points $13,502 per month $711 per month $2,469 per month, plus $40 per piano sold $859 per month eBook During August, Marwick's Pianos, Inc., sold and delivered 60 pianos. Print 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. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Inc. , Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Mc