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Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $ 1 , 4 9 4 per unit and then sells
Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $ per unit and then sells them to retail customers for an average price of $ each. The company's selling and administrative costs for a typical month are presented below:
During August, Marwick's Pianos, Incorporated, sold and delivered 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.
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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.
tableMarwicks Pianos, IncorporatedContribution Format Income Statement,,Total,Per PianoVariable expenses:,,Total variable expenses,,Contribution margin,,Fixed expenses:,,
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