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Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: W Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 planos. Required 1 Required 2 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. Cost Formula Complete this question by entering your answers in the tabs below. Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Variable expenses: 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.) Total variable expenses Contribution margin Fixed expenses $ 933 per month $4,790 per month, plus 5% of sales $ 58 per piano sold $ 659 per month $ 5,088 per month Total foxed expenses $ 13,509 per month $ 712 per month $ 2,481 per month, plus $43 per piano sold $ 907 per month Total 0 Per Piano

Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: W Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 planos. Required 1 Required 2 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. Cost Formula Complete this question by entering your answers in the tabs below. Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Variable expenses: 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.) Total variable expenses Contribution margin Fixed expenses $ 933 per month $4,790 per month, plus 5% of sales $ 58 per piano sold $ 659 per month $ 5,088 per month Total foxed expenses $ 13,509 per month $ 712 per month $ 2,481 per month, plus $43 per piano sold $ 907 per month Total 0 Per Piano

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter3: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 4PB: West Island distributes a single product. The companys sales and expenses for the month of June are...
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0 Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: aw Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 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. Required 1 Required 2 Complete this question by entering your answers in the tabs below. showers Cost Formula Variable expenses: 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, Incorporated Contribution Format Income Statement For the Month of August Total variable expenses Contribution margin Fixed expenses $ 933 per month $ 4,790 per month, plus 5% of sales per piano sold $58 $ 659 per month $5,088 per month Total foxed expenses $ 13,509 per month $ 712 per month $ 2,481 per month, plus $43 per piano sold $ 907 per month Total 0 Per Piano Q Search < Pr
Transcribed Image Text:0 Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: aw Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 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. Required 1 Required 2 Complete this question by entering your answers in the tabs below. showers Cost Formula Variable expenses: 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, Incorporated Contribution Format Income Statement For the Month of August Total variable expenses Contribution margin Fixed expenses $ 933 per month $ 4,790 per month, plus 5% of sales per piano sold $58 $ 659 per month $5,088 per month Total foxed expenses $ 13,509 per month $ 712 per month $ 2,481 per month, plus $43 per piano sold $ 907 per month Total 0 Per Piano Q Search < Pr
ouTube Maps er 1 i 05 K ces Mc Graw MU 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 $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below. Costs Selling: Advertising Sales salaries and commissions. Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: 9°F ain showers Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 planos. Required 1 Required 2 Cost Formula 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. $933 per month $4,790 per month, plus 5% of sales $ 58 per piano sold Selling and administrative expenses: Selling expenses: $ 659 per month $ 5,888 per month Complete this question by entering your answers in the tabs below. Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses $ 13,509 per month $712 per month $ 2,481 per month, plus $43 per piano sold $907 per month Prepare a traditional format income statement for August. (A "Net operating loss should be entered as a negative number.) Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August 0 0 0 ▬▬▬▬ Q Search
Transcribed Image Text:ouTube Maps er 1 i 05 K ces Mc Graw MU 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 $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below. Costs Selling: Advertising Sales salaries and commissions. Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: 9°F ain showers Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 planos. Required 1 Required 2 Cost Formula 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. $933 per month $4,790 per month, plus 5% of sales $ 58 per piano sold Selling and administrative expenses: Selling expenses: $ 659 per month $ 5,888 per month Complete this question by entering your answers in the tabs below. Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses $ 13,509 per month $712 per month $ 2,481 per month, plus $43 per piano sold $907 per month Prepare a traditional format income statement for August. (A "Net operating loss should be entered as a negative number.) Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August 0 0 0 ▬▬▬▬ Q Search
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