Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4] 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 Product Weedban $ 10.00 Greengrow $ 39.00 $ 3.10 $14.00 $ 137,000 $ 37,000 Traceable fixed expenses per year Last year the company produced and sold 37,500 units of Weedban and 15,000 units of Greengrow. Its annual common fixed expenses are $113,000 Required: Prepare a contribution format income statement segmented by product lines. 000 Product Line Total Weedban Greengrow Company Sales $ 960,000 $375,000 $ 585,000 Variable expenses 326,250 116,250 210,000 Contribution margin 633,750 258,750 375,000 Traceable fixed expenses 174,000 137,000 Product line segment margin 459,750 $121,750 37,000 $ 338,000 Common fixed expenses not traceable to products 113,000 Net operating loss 346,750