House of Organs, Inc., purchases organs from a well-known manufacturer and sells them at the retail level. The organs sell, on the average, for $3,000 each. The average cost of an organ from the manufacturer is $1,508. The costs that the company incurs in a typical month are presented below:
Costs Cost Formula
Advertising $962 per month
Delivery of organs $57 per organ sold
Sales salaries and commissions $4,783 per month, plus 5% of sales
Utilities $639 per month
Depreciation of sales facilities $5,098 per month
Executive salaries $13,481 per month
Depreciation of office equipment $890 per month
Clerical $2,550 per month, plus $41 per organ sold
Insurance $718 per month
During November, the company sold and delivered 60 organs.
Prepare a traditional income statement for November.
Prepare a contribution format income statement for November.