Marwick’s Pianos, Inc., purchases pianos from a

by | Mar 18, 2020 | Uncategorized

Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $1,494 each from the manufacturer. Marwick’s Pianos, Inc., sells the pianos to its customers at an average price of $2,600 each. The selling and administrative costs that the company incurs in a typical month are presented below:

Costs Cost Formula Selling: Advertising $949 per month Sales salaries and commissions $4,773 per month, plus 3% of sales Delivery of pianos to customers $59 per piano sold Utilities $637 per month Depreciation of sales facilities $5,034 per month Administrative: Executive salaries $13,435 per month Insurance $697 per month Clerical $2,454 per month, plus $35 per piano sold Depreciation of office equipment $890 per month

Required:1.Prepare a n income statement for Marwick’s Pianos, Inc., for August. Use the traditional format, with costs organized by function. (A “Net operating loss” should be entered as a negative number.)

Why work with us?

Authenticity:

All of our papers are authentic, as each paper of ours is composed according to your unique requirements. Confidentiality: We value you data. Our company is extremely efficient in guarding the privacy of our clients. 100% Money Back Guarantee: In the event you cancel your order, you get your money back as soon as possible, we give a 100% refund. 24/7 Support: Our team members are available via email, live chat, and phone. Revision Policy: You can apply for a revision if you think your paper could be better. In this case, your paper will be revised either by the specialist assigned to you or by another writer.

How the Platform Works

  • Click on 'Place Your Order' tab on the menu or click on 'Order Now' tab at the bottom and a new order page will appear
  • Fill in your requirements depending on your needs under the 'PAPER DETAILS' area
  • In the next section, fill in the academic level, required number of pages, paper deadline as provided in the drop-down menus.
  • To enter your registration details, click on 'CREATE ACCOUNT & SIGN IN'. This step allows you to create an account with us for purposes of record-keeping. Click on 'PROCEED TO CHECK OUT' at the bottom of the page
  • The next section requires you to fill in the payment details. Follow the guided process and soon your order will be available for our team to work on.