Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,490 per unit and then sells them to retail customers for an average price of $3,100 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 $950 per month $4,783 per month, plus 4% of sales $57 per piano sold $633 per month $4,992 per month $13,506 per month $701 per month $2,502 per month, plus $43 per piano sold $889 per month During August, Marwick's Pianos, Incorporated, 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 through contribution margin. 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, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: Total selling expenses Administrative expenses: 0 Total administrative expenses 0 Total selling and administrative expenses 0 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, Incorporated Contribution Format Income Statement Variable expenses: Total variable expenses Contribution margin Fixed expenses: Total fixed expenses For the Month of August Total Per Piano 0 < Required 1 Required 2 >