Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $$1,494$ per unit and then sells them to retail customers for an average price of $$3,400$ each. The company's selling and administrative costs for a typical month are presented below:

During August, Marwick's Pianos, Incorporated, sold and delivered $56$ pianos.

Required:

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.

Prepare a traditional format income statement for August. $($A "Net operating loss" should be entered as a negative number.$)$

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