Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,517 per unit and then sells them to retail customers for an average price of $3,200 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 $ 946 per month $ 4,800 per month, plus 6% of sales $ 60 per piano sold $ 643 per month $ 5,003 per month $ 13,585 per month $ 712 per month $ 2,519 per month, plus $36 per piano sold $ 873 per month During August, Marwick's Pianos, Incorporated, sold and delivered 61 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. Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses 0 Total selling expenses Administrative expenses: 0 Total administrative expenses Total selling and administrative expenses 0 Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses 0 0 Total variable expenses Contribution margin Fixed expenses: Total fixed expenses 0