How can I resolve this problem? Marwick’s Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,481 per unit and then sells them to retail customers for an average price...

How can I resolve this problem?

Marwick’s Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,481 per unit and then sells them to retail customers for an average price of $3,400 each. The company’s selling and administrative costs for a typical month are presented below:

During August, Marwick’s Pianos, Inc., 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.