Required Homework 1 Saved Help Save & Exit Submit Check my work Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $3,200 each. The company's selling and administrative costs for a typical month are presented below: 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 Cost Formula $946 per month $4,783 per month, plus 4% of sales $61 per piano sold $661 per month $4,978 per month $13,487 per month $716 per month $2,509 per month, plus $40 per piano sold $908 per month During August, Marwick's Pianos, Incorporated, sold and delivered 64 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. Required 1 Required 2