Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,511 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Adsinistrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $961 per month 54,780 per month, plus 5% of sales 560 per piano sold 5641 per month $4,905 per month 513,441 per month $714 per month $2,468 per month, plus 544 per piano sold $853 per month During August, Marwick's Pianos, Inc., sold and delivered 57 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 Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Tota selling and administrative expenses Warwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total variable expenses Contribution margin Fixed expenses Totatoes expenses