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:

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 cances Produced and sold 470 620 770 Total costs Variable costs $ 69,620 2 Pixed costs 148,600 2 2 Total conta $217,220 2 Coat per unit Variable cont per unit Tixed cost per unit 2 Total cost per unit 2 2 2 2 2 2 7 ? 2 Required: 1. Complete the table 3. Suppose Riverside sells its canoes for $518 each Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 820 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.) 470 620 770 $ 68,620 Number of Canoes Produced and Sold Total Costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 148,600 217,220 $ $ os 0.00 $ 0.00 $ 0.00 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for $518 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 cande Unit Contribution Margin Contribution Margin Ratio Complete this question by entering your answers in the tabs below. Required: Required 3 Required 4 Next year Riverside expects to sell 820 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