Honeyville Hardware produces and sells two products for professional landscapers: shovels and rakes. Revenue and cost information relating to the products follow:

Common fixed expenses in the company total $15,000 annually. Last year the company produced and sold 3,500 shovels and 5,000 rakes.
Required:
Prepare a contribution format income statement for the year, segmented by product lines.

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Product Rakes Shovels Seling price per unit ... Variable expenses per unit... Traceable fixed expenses per year. $ 10.00 6.50 $ 2100 1200 25,000 8,000