XYZ Company produces and sells only two products that are referred to as CATS and DOGS. Production is "for order" only, and no finished goods inventories are maintained; work in process inventories are negligible. The following data relate to last months operations: CATS DOGS Sales $ 180,000 $ 180,000 Manufacturing costs: Materials $ 18,000 $ 24,000 Direct labor $ 54,000 $ 48,000 Overhead $ 72,000 $ 84,000 Selling expenses $ 14,400 $ 10,080 Administrative expenses $ 12,000 $ 18,000 $36,000 of the manufacturing overhead assigned to CATS and $72,000 of that assigned to DOGS is fixed. 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.