Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) 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. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of \$1,505 per unit and then sells them to retail customers for an average price of $2,900 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: 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. 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. (A "Net operating loss" should be entered as a negative number.)
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Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) 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. (A "Net operating loss" should be entered as a negative number.) Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of \$1,505 per unit and then sells them to retail customers for an average price of $2,900 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: 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. 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. (A "Net operating loss" should be entered as a negative number.)
