Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

1. Complete the following table. (Round your Cost per Unit answers to 2 decimal places.) Number of Canoes Produced and Sold 410 590 780 Total

image text in transcribed
image text in transcribed
image text in transcribed
1. Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 410 590 780 Total costs $ Variable Costs Fixed Costs Total Costs 63,550 136,120 199,670 $ $ 0 $ 0 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit $ 0.00 $ 0.00 $ 0.00 2. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin rau (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentage" answer to 2 decimal places. (.e. 1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % 3. This year Sandy Bank expects to sell 850 canoes. Prepare a contribution margin income statement for the company. (Round you intermediate calculations to 2 decimal places.) SANDY BANK, Inc. Contribution Margin Income Statement For the Current Year Contribution Margin Income from Operations 4. Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number). Break-Even Units Canoes Break-Even Sales Revenue Income from Operations 4. Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number). Break-Even Units Canoes Break-Even Sales Revenue 5. Suppose Sandy Bank wants to earn $82,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round Unit Contribution Margin to 2 decimal places. Round your answer to the next whole number.) Target Sales Units Canoes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions