Problem 1-21 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of \$1,517 per unit and then sells them to retall customers for an average price of $2,800 each. The company's selling and administrative costs for a typical month are presented below: Durling August, Marwick's Planos, Incorporated, sold and delvered 61 planos. 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. Predare a traditional format income statement for Auaust. (A "Net oderatina 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.)
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