Q#1: Marwick's Pianos, Inc purchases pianos from a large manufacturer for an average cost of $1,514 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 Cost Formula Costs Seling Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative Executive salaries Insurance Clerical Depreciation of office equipment $954 per month $4806 per month, plus 3% of sales 557 per piano sold 5642 per month $5,094 per month $13,515 per month $710 per month 52.486 per month plus $39 per piano sold 5872 per month During August, Marwick's Pianos, Inc., sold and delivered 56 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 1 Type here to search O D-1080 content A 2 3 $ 4 % 5 o 6