please dont provide answer in image format thank you Marinette Company makes several products, including canoes. The company has been experiencing losses from its canoe segmentand is considering dropping that product line. The following information is available regarding its canoe segment.SalesVariable costsDirect materialsDirect laborVariable overheadVariable selling and administrativeTotal variable costsContribution marginFixed costsDirectIndirectTotal fixed costsNet incomeIncome Statement-Canoe SegmentMARINETTE COMPANYRequired 1 Required 2SalesExpenses:$ 510,000560,000360,000230,000Total expensesNet income (loss)435,000360,000$2,300,0001. If canoes are discontinued, calculate the net income lost or gained.2. Should management discontinue the manufacturing of canoes?Complete this question by entering your answers in the tabs below.1,660,000640,000795,000$ (155,000)If canoes are discontinued, calculate the net income lost or gained. (Leave no cells blank. Enter zeros where appropriate.)Keep thedepartmentEliminate thedepartment

Dropping a product line is a very significant decision.The analysis involves calculating the change…

Marinette Company makes several products, including canoes. The company has been experiencing losses from its canoe segment and is considering dropping that product line. The following information is available regarding its canoe segment. Sales Variable costs Direct materials Direct labor MARINETTE COMPANY Income Statement-Canoe Segment Variable overhead Variable selling and administrative Total variable costs. Contribution margin Fixed costs Direct Indirect Total fixed costs Net income $ 510,000 560,000 360,000 230,000 435,000 360,000 $2,300,000 1,660,000 640,000 795,000 $ (155,000)

Marinette Company makes several products, including canoes. The company has been experiencing losses from its canoe segment and is considering dropping that product line. The following information is available regarding its canoe segment. Sales Variable costs Direct materials Direct labor MARINETTE COMPANY Income Statement-Canoe Segment Variable overhead Variable selling and administrative Total variable costs. Contribution margin Fixed costs Direct Indirect Total fixed costs Net income $ 510,000 560,000 360,000 230,000 435,000 360,000 $2,300,000 1,660,000 640,000 795,000 $ (155,000)

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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