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. Marwick$$s Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $$1,495$ per unit and then sells them to retail customers for an average price of $$2,300$ each. The company$$s selling and administrative costs for a typical month are presented below:

Costs Cost Formula

Selling:

Advertising $$941$ per month

Sales salaries and commissions $$4,801$ per month, plus $4\%$ of sales

Delivery of pianos to customers $$59$ per piano sold

Utilities $$665$ per month

Depreciation of sales facilities $$4,938$ per month

Administrative:

Executive salaries $$13,547$ per month

Insurance $$692$ per month

Clerical $$2,508$ per month, plus $$44$ per piano sold

Depreciation of office equipment $$944$ per month

During August, Marwick$$s Pianos, Incorporated, sold and delivered $60$ pianos.

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 basis down through contribution margin.Marwick's Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $$1,495$ per unit and then sells them to

retail customers for an average price of $$2,300$ each. The company's selling and administrative costs for a typical month are presented

below:

During August, Marwick's Pianos, Incorporated, sold and delivered $60$ pianos.

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 basis down

through contribution margin.

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

Prepare a traditional format income statement for August.

Note: A "Net operating loss" should be entered as a negative number.Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare a traditional format income statement for August.

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