Please do not give solution in image format thanku GDI Industries produces three types of plates: Ceramic,Glass, and Plastic. A condensed segmented incomestatement for a recent period follows:SalesVariableExpensesContributionMarginFixedExpensesNet Income(Loss)O 75,00063,00062.000Segmented Income StatementCeramicGlassPlastic$100,000 $125,000 $40,000$50,000 $65,00073,000O 74,000$50,000 $60,000 $11,000 $121,000$15,000Total$265,000$29,000 $144,000$35,000Assume none of the fixed expenses for the Plastic line isavoidable. What will be total net income if the Plastic line isdropped?$20,000 $12,000 $47,000$40,000 ($1,000) $74,000

Net income is the amount earned by the entity after deducting the variable and fixed costs from the…

GDI Industries produces three types of plates: Ceramic, Glass, and Plastic. A condensed segmented income statement for a recent period follows: Sales Variable Expenses Contribution Margin Fixed Expenses Net Income (Loss) 75,000 63,000 62.000 73.000 Segmented Income Statement Ceramic Glass Plastic Total $100,000 $125,000 $40,000 $265,000 $50,000 $65,000 $29,000 $144,000 74,000 $50,000 $60,000 $11,000 $121,000 $15,000 Assume none of the fixed expenses for the Plastic line is avoidable. What will be total net income if the Plastic line is dropped? $20,000 $12,000 $47,000 $35,000 $40,000 ($1,000) $74,000

GDI Industries produces three types of plates: Ceramic, Glass, and Plastic. A condensed segmented income statement for a recent period follows: Sales Variable Expenses Contribution Margin Fixed Expenses Net Income (Loss) 75,000 63,000 62.000 73.000 Segmented Income Statement Ceramic Glass Plastic Total $100,000 $125,000 $40,000 $265,000 $50,000 $65,000 $29,000 $144,000 74,000 $50,000 $60,000 $11,000 $121,000 $15,000 Assume none of the fixed expenses for the Plastic line is avoidable. What will be total net income if the Plastic line is dropped? $20,000 $12,000 $47,000 $35,000 $40,000 ($1,000) $74,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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