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Need contribution format income statement please. Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,505 per unit and then

Need contribution format income statement please. image text in transcribed
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Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,505 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 Cost Formula Song Advertising $950 per month Sales salaries and commissions 54,820 per month, plus 6% of sales Delivery of plans to customers $81 per piano sold Us 5667 per month Depreciation of sales facilites $5,009 per month Administrative Executive salaries $13.496 per month Insurance $700 per month Clerical $2,507 per month, plus $42 per piano sold Depreciation of office equipment $905 per month During August, Marwick's Pianos, Inc., 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. 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 Planos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total variable expenses Contribution margin Fixed expenses Total forced expenses

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