Marwick's Planos, Incorporated, purchases planos from a manufacturer for an average cost of $$1,484$ per unlt and then sells them to

retall customers for an average price of $$2,400$ each. The company's selling and administrative costs for a typical month are presented

below.

Durling August, Marwick's Planos, Incorporated, sold and dellvered $63$ planos.

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 basls down

through contributlon margin.

Complete this question by entering your answers in the tabs below.

Prepare a traditional format income statement for August.

Note: A "Net operating loss" should be entered as a negative number. Prepare a contribution format income statement for August. Show costs and revenues on bo

down through contribution margin.

Note: A "Net operating loss" should be entered as a negative number:Marwick$$s Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $$1,484$ 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 $$953$ per month

Sales salaries and commissions $$4,830$ per month, plus $3\%$ of sales

Delivery of pianos to customers $$61$ per piano sold

Utilities $$661$ per month

Depreciation of sales facilities $$4,909$ per month

Administrative:

Executive salaries $$13,480$ per month

Insurance $$695$ per month

Clerical $$2,542$ per month, plus $$44$ per piano sold

Depreciation of office equipment $$866$ per month

During August, Marwick$$s Pianos, Incorporated, sold and delivered $63$ 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.