Smith's Inc. produces and sells water bottles - plastic and metal. Revenue and cost information relating to the products follow:
Plastic Metal
Selling price $5.50 $9.00
Variable expenses per bottle $2.20 $4.85
Traceable fixes expenses per year $110,000 $32,000
Common fixed expenses in the company total $98,000 annually. Last year the company produced and sold 45,200 plastic bottles and 15,000 metal bottles.
Required:
Prepare a contribution format income statement for the year segmented by product lines and in total.