Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,520 per unit and then sells them to retail customers for an average price of $2,400 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $968 per month Sales salaries and commissions $4,775 per month, plus 6% of sales Delivery of pianos to customers $63 per piano sold Utilities $655 per month Depreciation of sales facilities $4,965 per month Administrative: Executive salaries $13,599 per month Insurance $715 per month Clerical $2,463 per month, plus $44 per piano sold Depreciation of office equipment $864 per month O During August, Marwick's Pianos, Incorporated, sold and delivered 58 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. Complete this question by entering your answers in the tabs below. 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 Prev 1 of 3 Next >