5-17 (Algo) Determining cost behavior, preparing contribution margin income statement [LO 5-1,5-5]

E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5) Riverside Inc. mokes one model of wooden canoe. Partial Information for it follows: Number of Canone Produced and sold 400 600 750 Total costa Variable conta $ 54,000 3 R1,000 $101,250 Tixed costs 60,000 60,000 50,000 Total costa $114,000 $141,000 $161,250 Cont per unit Variable cont per unit $ 135.00 $ 135.00 $135.00 Fixed cost per unit 150.00 100.00 80.00 Total cost per unit $285.00 $ 235.00 $ 215.00 Riverside sells its canoes for $370 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (l.e. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $470 por Canon Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio % Contribution Margin Income Statement Contribution Margin Net Operating Income