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Check my wor The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow. Racing Bikes Sales Total $ 914,000 Variable manufacturing and selling expenses Contribution margin Fixed expenses: Dirt Bikes $ 262,000 111,000 151,000 Mountain Bikes $ 401,000 208,000 193,000 474,000 440,000 $ 251,000 155,000 96,000 Advertising, traceable 70,100 8,700 41,000 20,400 43,700 20,500 7,700 15,500 Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses Total fixed expenses 115,500 40,500 38,700 36,300 52,400 80,200 50,200 182,800 412,100 122,100 167,600 122,400 Net operating income (loss) $ 27,900 $ 28,900 $ 25,400 $ (26,400) "Allocated on the basis of sales dollars. Management is concerned about the continued losses shown by the racing bikes and wants a recommendation as to whether or not the line should be discontinued. The special equipment used to produce racing bikes has no resale value and does not wear out Required: 1. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? 2. Should the production and sale of racing bikes be discontinued? Save & Exit Submit Check my work Total tixed expenses 26/,000 Net operating income (loss) 412,100 $ 27,900 122,400 122,108 $ 28,900 $ 25,400 $ (26,400) "Allocated on the basis of sales dollars. Management is concerned about the continued losses shown by the racing bikes and wants a recommendation as to whether or not the line should be discontinued. The special equipment used to produce racing bikes has no resale value and does not wear out. Required: 1. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? 2. Should the production and sale of racing bikes be discontinued? 3. Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the various product lines. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? Next > Required 1 Required 2 Required 3 Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the various product lines. Totals Dirt Bikes Mountain Bikes Racing Bikes Contribution margin (loss) 0 Traceable fixed expenses: 0 Total traceable fixed expenses Product line segment margin (loss) Net operating income (loss) $ 0 0 $ 0 Check my work