FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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 $ 12.00 $ 32.00
Variable expenses per unit $ 2.40 $ 12.00
Traceable fixed expenses per year $ 129,000 $ 34,000
 

 

Common fixed expenses in the company total $111,000 annually. Last year the company produced and sold 39,500 units of Weedban and 17,000 units of Greengrow.

 

Required:

Prepare a contribution format income statement segmented by product lines.

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