Martin Company Sells Two Products,Standard and Deluxe Required:

Prepare a Segment Margin Income Statement

Martin Company sells two products,Standard and Deluxe.Data for activity during January are as follows:
$$\begin{array}{lcc} & \underline{\text { Standard }} & \underline{\text { Deluxe }} \\\text { Sales } & \$ 100,000 & \$ 120,000 \\\text { Contribution margin } & 35 \% & 30 \% \\\text { Traceable fixed costs } & \$ 15,000 & \$ 25,000\end{array}$$
Required:

Prepare a Segment Margin income statement. Common fixed costs of $25,000 are allocated one-half to Standard and one-half to Deluxe.