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Marwnck's Planos, Incorporated, purchases planos from a large manufacturer for an average cost or $1,498...

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Accounting

Marwnck's Planos, Incorporated, purchases planos from a large manufacturer for an average cost or $1,498 per unit and then sells them to retall customers for an average price of $2,500 each. The companys selling and odministrative costs for a typlcal month are presented belowDuring August, Marwick's Planos, Incorporated, sold and delvered 56 planos.Required:
Prepare a traditional format income statement for August.
\table[[Marwick's Panos, Incorporated,,],[Fontritution Format Income Statement,,],[,Total,Per Piano],[Sales,,],[Variable expenses:,,],[Salas salaries and commissions,,],[Delivery of pianos,,],[Clercal,,],[Cost of goods sold,,],[,,],[,,],[Total variable expenses,,],[Contribution margin,,],[Fixed expenses:,,],[Advertising,,],[Salas salarias and commissions,,],[Utities,,],[Depeciation of sales facilities,,],[Depreciation of office equipment,,],[Executive salaries,,],[Insurance,,],[Clercal,,],[,,],[,,],[Total fixed expenses,,],[,,]]
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