Marwicks Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,484 per unit and then sells them to retail customers for an average price of $3,300 each. The companys selling and administrative costs for a typical month are presented below:

Costs	Cost Formula
Selling:
Advertising	$947 per month
Sales salaries and commissions	$4,818 per month, plus 4% of sales
Delivery of pianos to customers	$62 per piano sold
Utilities	$650 per month
Depreciation of sales facilities	$4,951 per month
Administrative:
Executive salaries	$13,405 per month
Insurance	$681 per month
Clerical	$2,535 per month, plus $41 per piano sold
Depreciation of office equipment	$886 per month

During August, Marwicks Pianos, Incorporated, sold and delivered 61 pianos.

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.