TUTTAR YOUTUBE Wackard Workday Managerial Accounting k Saved Help Save & Exit Check Marwick's Planos, Inc.. purchases planos 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 $2,700 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $937 per month Sales salaries and commissions $4,815 per month, plus 54 of sales Delivery of pianos to customers $59 per piano sold Utilities $644 per month Depreciation of sales facilities $4,987 per month Administrative: Executive salaries $13,485 per month Insurance $695 per month Clerical $2,469 per month, plus $36 per piano sold Depreciation of office equipment $890 per month During August, Marwick's Planos, Inc., sold and delivered 64 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Sales $ 172,801 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses: Advertising Sales salaries and commissions Delivery of pianos Utilities Depreciation of sales facilities $ 937 13,455 3,776 644 4,987 ces 23,799 Total selling expenses Administrative expenses: Executive salaries 13,485 Insurance 695 4,773 Clerical Depreciation of office equipment 890 19,843 Total administrative expenses Total selling and administrative expenses Net operating income 43,642 For the Month of August Total Per Piano Variable expenses: 0 Total variable expenses Contribution margin Fixed expenses: Total fixed expenses 0