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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: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Weedban Greengrow $ 10.00 $36.00 $ 2.50 $ 12.00 $ 131,000 $ 40,000 Last year the company produced and sold 40,000 units of Weedban and 22,500 units of Greengrow. Its annual common fixed expenses are $96,000. Required: Prepare a contribution format income statement segmented by product lines. Product Line Total Company Weedban Greengrow Activity-based costing is a costing method that is designed to provide managers with product cost information for internal decision-making. True or False True False In the second-stage allocation in activity-based costing, activity rates are used to apply overhead costs to products and customers. True or False True False