5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Inc. makes one model of wooden canoe. Partial information for it follows: ? ? Number of Canoes Produced and sold 480 630 780 Total costs Variable costs $ 66,240 Fixed costs 149,000 ? Total costs $215,240 ? Cost per unit Variable cost per unit ? Fixed cost per unit ? Total cost per unit ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $501 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 830 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 480 630 780 Total Costs Variable Costs Fixed Costs 66,240 149,000 215,240 Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 1 Required 3 > Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for $501 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) Unit Contribution Margin per canoe Contribution Margin Ratio % Required 1 Required 4 Required 1 Required 3 Required 4 Next year Riverside expects to sell 830 canoes. Complete the contribution margin income statement for the company. (Round your Contribution margin to 2 decimal places.) RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Contribution Margin Net Operating Income