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Prepare a contribution format income statement

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Question - Royal Lawncare Company produces and sells two packaged products, Weedban and Greengrow. Revenue and cost information relating to the products follow:

 

Product

 

Weedban

Greengrow

Selling price per unit

$9.00

$31.00

Variable expenses per unit

$2.50

$10.00

Traceable fixed expenses per year

$128,000

$44,000

Common fixed expenses in the company total $97,000 annually. Last year the company produced and sold 35,500 units of Weedban and 21,500 units of Greengrow.

Required: Prepare a contribution format income statement segmented by product lines.

Reference no: EM131702057

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