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 $ 39.00 Variable expenses per unit $ 2.70 $ 14.00 Traceable fixed expenses per year $ 131,000 $ 33,000 Last year the company produced and sold 40,500 units of Weedban and 18,500 units of Greengrow. Its annual common fixed expenses are $101,000. Required: Prepare a contribution format income statement segmented by product lines.

                      Royal Lawncare Company

                              Income Statement

                                 Total                    Weedban              Greengrow

Sales revenue          $1,086,000         $364,500              $721,500

Variable costs          $368,350             $109,350              $259,000

Contribution             $717,650              $255,150              $462,500

margin

Traceable fixed        $164,000                $131,00                 $33,000

costs

Segment margin      $553,650             $124,150               $429,500

Common fixed          $101,000

costs

Net income              $452,650

3,500 beverages

explanation:

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