Please Help! Problem 1-21 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Marwick's Pianos,...
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Problem 1-21 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,518 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: During August, Marwick's Pianos, Incorporated, sold and delivered 60 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 down through contribution margin. (A "Net operating loss" should be entered as a negativ Drenare a traditinnal format inrome ctatement for u uruct ( "Nt operating loss" should Prepare a contribution format income statement for August. Show costs and revenues on down through contribution margin. (A "Net operating loss" should be entered as a negati)
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