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Calculate the net income lost or gained

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Question - Marinette Company makes several products, including canoes. The company has been experiencing losses from its canoe segment and is considering that product line. The following information is available regarding its canoe segment.

MARINETTE COMPANY Income Statement - Canoe Segment

Sales

 

$2,040,000

Variable costs

 

 

Direct materials

$430,000

 

Direct labor

540,000

 

Variable overhead

260,000

 

Variable selling and administrative

230,000

 

Total variable costs

 

1,460,000

Contribution margin

 

580,000

Fixed costs

 

 

Direct

585,000

 

Indirect

380,000

 

Total fixed costs

 

365,000

Net income

 

$(385,000)

1. If canoes are distributed, calculate the net income lost or gained.

2. Should management discontinue the manufacturing of canoes?

  • Yes
  • No

Reference no: EM131610915

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