$2$

$6$

points

$\backslash$table$[[$Costs$,$Cost Formula$],[$Selling:$,$$$700$ per month$],[$Advertising$,$$$950$ per month, plus $8\%$ of sales$],[$Sales salaries and commissions,$$30$ per piano sold$],[$Delivery of pianos to customers,$$350$ per month$],[$Utilities$,$$$800$ per month$],[$Depreciation of sales facilities,$],[$Administrative:$,$$$2,500$ per month$],[$Executive salaries,$$400$ per month$],[$Insurance$,$$$1,000$ per month, plus $$20$ per piano sold$],[$Clerical$,$$$300$ per month$]]$

During August, Marwick's Pianos, Incorporated, sold and delivered $40$ pianos.

References

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 pasis down through contribution margin.

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

Required $1$

Required $2$

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.

Note: A "Net operating loss" should be entered as a negative number.

$\backslash$table$[[\backslash$table$[[$Marwick$\text{'}$s Pianos, Incorporated$],[$Contribution Format Income Statement$],[]]$ For the Month of August$],[,,,],[,$Total,,$],[,$Per Piano,,$],[$Sales$,$$$,125,000,$$