Lawn Unlimited produces and sells three lines of carpet: economy, standard, and deluxe. Wilson Joseph, the chief financial officer of the company, has prepared the following report on the profitability in the past year. In the report, fixed costs are allocated based on yards of carpet. Standard Deluxe Total Yards of carpet Sales Less variable costs (dye, yarn, labor, etc.) Less fixed costs (depreciation, supervisory salaries, etc.) Profit (loss) Economy 30,600 $326,000 173,700 162,440 $(10,140) 45,900 $698,000 430,600 243,660 $23,740 76,500 $1,551,600 921,900 406,100 $223,600 153,000 $2,575,600 1,526,200 812,200 $237,200 Upon seeing the report, Joseph Moore, the president of Lawn Unlimited, suggested that the company should consider dropping the economy grade and concentrate on the two other lines. Wilson replied, however, that doing this would lead to the cost allocation death spiral. (a) Revise the report assuming the company drops the economy grade. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Standard Deluxe Total Yards of carpet Sales $ $ ta Less variable costs Less fixed costs Profit (loss) $ $ $ (b). If either the standard or the deluxe grades is reporting a loss in part a, revise the report assuming that it is also dropped. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Deluxe Yards of carpet Sales Less variable costs Less fixed costs Profit (loss)