Forever Memories Company has two divisions and the following information avail

Forever Memories Company has two divisions and the following information available:

a. Net sales were $150000. $90000 was attributed to the Cherry Division.

b. Variable costs were $80000. 40% was attributed to the Grape Division.

c. Total separable fixed costs controllable by division managers were $32000 of which $20000

applied to the Cherry Division.

d. Total separable fixed costs not controllable by division managers were $14000 in the Cherry

Division and $4000 in the Grape Division.

e. Unallocated costs were $7000.

Required:

Prepare a contribution approach income statement for the company as a whole and each division.