Homework Help is Here – Start Your Trial Now!
Business
Accounting
26 Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Sales Variable expenses Weedban $ 8.00 $ 2.90 $ 134,000 Last year the company produced and sold 36,500 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $115,000. Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses not traceable to products Net operating income Required: Prepare a contribution format income statement segmented by product lines. Greengrow $32.00 $10.00 $40,000. $ Total Company Product Line Weedban Greengrow 55,500 $ 292,000 $ 292,000 608,000 (236,500) (316,000) 105,850 190,000 (342,350) $ (506,000) $ (1,176,850) 255,500 (597,850) 19,000 900,000 (881,000) 295,850

26 Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Sales Variable expenses Weedban $ 8.00 $ 2.90 $ 134,000 Last year the company produced and sold 36,500 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $115,000. Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses not traceable to products Net operating income Required: Prepare a contribution format income statement segmented by product lines. Greengrow $32.00 $10.00 $40,000. $ Total Company Product Line Weedban Greengrow 55,500 $ 292,000 $ 292,000 608,000 (236,500) (316,000) 105,850 190,000 (342,350) $ (506,000) $ (1,176,850) 255,500 (597,850) 19,000 900,000 (881,000) 295,850

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

26 Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Sales Variable expenses Weedban $ 8.00 $ 2.90 $ 134,000 Last year the company produced and sold 36,500 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $115,000. Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses not traceable to products Net operating income Required: Prepare a contribution format income statement segmented by product lines. Greengrow $32.00 $10.00 $40,000. $ Total Company Product Line Weedban Greengrow 55,500 $ 292,000 $ 292,000 608,000 (316,000) 190,000 (506,000) $ (1,176,850) (236,500) 105,850 (342,350) $ 255,500 (597,850) 19,000 900,000 (881,000) 295,850
Transcribed Image Text:26 Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Sales Variable expenses Weedban $ 8.00 $ 2.90 $ 134,000 Last year the company produced and sold 36,500 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $115,000. Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses not traceable to products Net operating income Required: Prepare a contribution format income statement segmented by product lines. Greengrow $32.00 $10.00 $40,000. $ Total Company Product Line Weedban Greengrow 55,500 $ 292,000 $ 292,000 608,000 (316,000) 190,000 (506,000) $ (1,176,850) (236,500) 105,850 (342,350) $ 255,500 (597,850) 19,000 900,000 (881,000) 295,850
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS