Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,515 per unit and then sells them to retail customers for an average price of $2,900 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 Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $939 per month $4,774 per month, plus 5% of sales $60 per piano sold $636 per month $4,931 per month $13,447 per month $700 per month $2,549 per month, plus $44 per piano sold $858 per month During August, Marwick's Pianos, Inc., sold and delivered 62 planos 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 For the Month of August Selling and administrative expenses: Selling expenses. Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses Variable expenses: Total variable expenses Contribution margin Fixed expenses: Total fixed expenses Total Per Piano