Question: I do not know what information I have to put in empty graphs. I would also like to check if rest of them are correct.

I do not know what information I have to put in empty graphs. I would also like to check if rest of them are correct. Thank you.I do not know what information I have to put in emptygraphs. I would also like to check if rest of them arecorrect. Thank you. Marwick's Pianos, Inc., purchases pianos from a large manufacturerfor an average cost of $2.450 per unit and then sells themto retail customers for an average price of $3,125 each. The company's

Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $2.450 per unit and then sells them to retail customers for an average price of $3,125 each. The company's selling and administrative costs for a typical month are presented below Cost Formula 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! $700 per month $950 per month, plus 8% of sales $30 per piano sold $350 per month $800 per month $2,500 per month $400 per month $1,000 per month, plus $20 per piano sold $300 per month During August, Marwick's Pianos, Inc., sold and delivered 40 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. Sales salaries and commissions Delivery of pianos Utilities Depreciation of sales facilities 10,950 1,200 350 800 14,000 Total selling expenses Administrative expenses: Executive salaries Insurance Clerical Depreciation of office equipment 2,500 400 1,800 300 T 5,000 Total administrative expenses Total selling and administrative expenses Net operating income 19.000 80,000 $ Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Sales $ 125,000$ 3,125 Variable expenses: 98,00 98,000 2,450 Sales salaries and commissions 10,000 250 Delivery of pianos 1,200 30 Clerical 800 20 2,750 110,000 15,000 $ $ 375 Total variable expenses Contribution margin Fixed expenses: Advertising Sales salaries and commissions 700 950 Utilities 350 Depreciation of sales facilities 800 Clerical T 8 800 00 20 20 110,000 15,000 = $ 2,750 375 $ 700 950 Total variable expenses Contribution margin Fixed expenses: Advertising Sales salaries and commissions Utilities Depreciation of sales facilities Executive salaries Insurance Clerical Depreciation of office equipment 350 8001 - 2,500 400 1,000 300 7.000 Total fixed expenses Net operating income $ 8,000

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