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Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,518...

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Question

Accounting

Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,518 per unit and then sells them
to retail customers for an average price of $3,300 each. The company's selling and administrative costs for a typical month are
presented below:
During August, Marwick's Pianos, Incorporated, sold and delivered 63 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.
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