7) Burrow Corporation produces and sells only two products that are referred to as RIPS and PITS. Production is "for order" only, and no finished goods inventories are maintained; work in process inventories are negligible. The following data relate to last month's operations: $36,000 of the manufacturing overhead assigned to RIPS and $72,000 of that assigned to PITS is fixed and traceable. The balance of the overhead is variable. Selling expenses consist entirely of commissions paid as a percentage of sales. Direct labor is completely variable. Administrative expenses are fixed and cannot be traced to the products but have been arbitrarily allocated to the products. Required: Prepare a segmented income statement, in total and for the two products. Use the contribution approach