Whitman Corporation, a merchandising company, reported sales of 15,000 units for May at a selling price of $730 per unit. The cost of goods sold (all variable) was $467 per unit and the variable selling expense was $61 per unit. The total fixed selling expense was $159,000. The variable administrative expense was $31 per unit and the total fixed administrative expense was $379,200.

Prepare a contribution format income statement for May.

Prepare a traditional format income statement for May.