3 E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] 3 points Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Skipped Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 820 canoes. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $66,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. eBook Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 5 References Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) 410 630 750 Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs $ 59,860 134,070 Total Costs $ 193,930 $ 0 $ 0 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit $ 0.00 S 0.00 $ 0.00 Print Required 1 Required 2 Required 3 Required 4 Required 5 References Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentage" answer to 2 decimal places. (i.e. .1234 should be entered as 12.34%.)) per Canoe Unit Contribution Margin Contribution Margin Ratio % Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 5 References This year Sandy Bank expects to sell 820 canoes. Prepare a contribution margin income statement for the company. (Round your intermediate calculations to 2 decimal places.) SANDY BANK, Inc. Contribution Margin Income Statement For the Current Year Contribution Margin Income from Operations Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 5 References 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 Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 5 References Suppose Sandy Bank wants to earn $66,000 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