Marwick's Pianos, Incorporated, purchases pianos from a manufacturer for an averge cost of $ per unit and then sells them to retail customers for an average price of $ each The company's selling and administrative costs for a typical month are presented below:
Advertising: $ per month
Sales salaries and commissions: $ per month, plus of sales
Delivery of pianos to customers $ per piano sold
Utilities: $ per month
Depreciation of sales facilities: $ per month
Executive salaries: $
Insurance: $ per month
Clerical: $ plus $ per piano sold
Depreciation of office equiptment: $ per month
During August, Marwicks Pianos sold and delivered Pianos
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
Traditional Income Statement
For the Month of August
tableFor the Month of August,Selling and administrative expenses:,Selling expenses:,Total selling expenses,Administrative expenses:,Total selling and administrative expenses,
