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 $3,300,000
Variable costs
Direct materials $710,000
Direct labor 760,000
Variable overhead 560,000
Variable selling and administrative 330,000
Total variable costs 2,360,000
Contribution margin 940,000
Fixed costs
Direct 635,000
Indirect 560,000
Total fixed costs 1,195,000
Net income $(255,000)
Required:
If canoes are discontinued, calculate the net income lost or gained.
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