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Prepare a contribution margin format income statement

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Problem - The Greenville Goober Company produces and sells two products. Revenue and cost information by product for the current year is as follows:

Product A Product B

Selling price per product $10 $20

Variable expenses per product 4 15

Traceable fixed expenses per year 110,000 35,000

Annual common fixed expenses for the company totals $100,000. During the year Greenville Goober sold 35,000 units of Product A and 20,000 units of Product B.

Prepare a contribution margin format income statement for the year by product and provide the segment margin for Product A and the segment margin for Product B.

Reference no: EM131831379

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