Marinette Company makes several products, including cances. 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 MARINETTE COMPANY Income statement-Cance segment Sales 53,900,000 Variable cost Direct materials $ 800,000 Direct labor B80,000 Variable overhead 680.000 Variable selling and administrative 390.000 Total variable costs 21200,000 Contribution margin 1.120,000 Fixed costs Direct 355,000 Indirect 689.000 Total fixed costs 1.435.000 Net Income $(315.000) 1. If canoes are discontinued, calculate the net income lost or gained, 2. Should management discontinue the manufacturing of cances? Complete this question by entering your answers in the tabs below. Required 1 Required 2 If canoes are discontinued, calcutate the net income lost or gained. Leave no cells blank. Enter xeras where appropriate.) Keep the department Eliminate the department Sales Expenses Total expenses Net Income foss) 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 $3,900,000 MARINETTE COMPANY Income Statement-Canoe Segment Sales Variable costs Direct materiala $830,000 Direct labor 880,000 Variable overhead 680,000 Variable selling and administrative 390,000 Total variable costs Contribution margin Fixed costs Direct 755,000 Indirect 680,000 Total fixed costs Net income 2,780,000 1,120,000 1.435.000 5 (315,000) 1. 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. Required 1 Required 2 Should management discontinue the manufacturing of cances? Should management discontinue the manufacturing of cances ?