Question
Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating...
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 | $ | 6.00 | $ | 7.50 | |
| Variable expenses per unit | $ | 2.40 | $ | 5.25 | |
| Traceable fixed expenses per year | $ | 45,000 | $ | 21,000 | |
Common fixed expenses in the company total $33,000 annually. Last year the company produced and sold 15,000 units of Weedban and 28,000 units of Greengrow.
Answers
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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6.00 $7.50 Variable expenses per unit . . . . . . . . . . . . . . . . . . . . . . . $2.40 $5.25 Traceable fixed expenses per year . . . . . . . . . . . . . . . . . $45,000 $21,000 Common fixed expenses in the company total $33,000 annually. Last year the company produced and sold 15,000 units of Weedban and 28,000 units of Greengrow. Required: Prepare a contribution format income statement segmented by product lines.
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