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 505 655 805 Total costs Variable costs $ 71,205 ? ? Fixed costs 148,200 ? Total costs $219, 405 2 2 Cost per unit Variable cost per unit ? ? ? Fixed cost per unit 3 ? ? Total cost per unit ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $516 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 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 Complete the table. (Round your cost per unit answers to 2 decimal places.) 505 655 805 Number of Canoes Produced and Sold Total Costs Variable Costs Fixed Costs $ 71,205 148,200 $ 71,205 148,200 $219,405 ? ? ? ? Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit ? ? ? ? ? 2 ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $516 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 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 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 505 655 805 Total Costs Variable Costs $ Fixed Costs 71,205 148,200 219,405 Total Costs $ Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit ? $ 71,205 148, 200 $219, 405 ? ? ? ? Variable costs Fixed costs Total costs 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 $516 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 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 Suppose Riverside sells its canoes for $516 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.) per canoe Unit Contribution Margin Contribution Margin Ratio %