Assignment 1:Cost Concepts Help Save & Exit Submit Check my work Matwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,506 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. points Cost Formula Skipped Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $950 per month $4,812 per month, plus 4% of sales $58 per piano sold $642 per month $4,945 per month eBook Print References $13,449 per month $680 per month $2,463 per month, plus $37 per piano sold $993 per month During August, Marwick's Planos, Inc., sold and delivered 58 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