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Chapter 1 HW Saved Help Save & Exit Submit Check my work customers for an average Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,489 per unit and then sells them to retail below: or an average price of $3,100 each. The company's selling and administrative costs for a typical month are presented 15 points costs Cost Formula Advertising Sales salaries and commissions $936 per month Delivery of pianos to customers $4,796 per mo e Book Utilities $60 per piano sold Depreciation of sales facilities $662 per month dministration 39 per month Print Executive salaries Insurance $13,518 per month Clerical Depreciation of office equipment $2, 497 per month, plus $42 per piano sold $929 per month References During August, Marwick's Pianos, Inc., sold and delivered 59 pianos. Required: 1. Prepare a traditional format income statement for August through contribution ma 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative.number.).... Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Sales $ 182,900 References Cost of goods sold 87,851 Gross margin 95,049 Selling and administrative expenses Selling expenses Advertising 936 Sales salaries and commissions 12, 112 Delivery of pianos 3 , 540 Utilities 662 References Depreciation of sales facilities 5,039 Total selling expenses 22,289 Administrative expenses Executive salaries 13,518 Insurance 714 Clerical 2,497 Depreciation of office equipment 929 Total administrative expenses 17,658 Total selling and administrative expenses 39,947 Net operating income $ 55,102 Chapter 1 HW i Saved Help Save & Exit Submit Check my work Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,489 per unit and then sells them to retail below: customers for an average price of $3,100 each. The company's selling and administrative costs for a typical month are presented 15 points Costs Selling : Cost Formula Advertising. Sales salaries and commissions $936 per month $4,796 per month, plus 4% of sales $60 per piano Book Depreciation of sales facilities $662 per month $5, 039 per month aministrative: Executive salaries Print Insurance Clerical Depreciation of office ed 197 per month, plus $42 per piano sold $929 per month References During August, Marwick's Pianos, Inc., sold and delivered 59 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. References Required 1 Required 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. (A.Net operating loss. should be entered.as a negative.number.)... Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August References Total Per Piano Sales $ 182,900 $ Variable expenses: Sales salaries and commissions Delivery of pianos 3,540 Clerical Cost of goods sold 87,851 1,489/ References Total variable expenses 91,391 Contribution margin Fixed expenses Advertising Sales salaries and commissions References Utilities Depreciation of office equipment 662 929 Depreciation of sales facilities 5.039 Executive salaries 3518 Insurance 714 Clerical 2.497 Total fixed expenses 29,091 Net operating income

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