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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

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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 515 665 815 ? $ 73,645 148,900 $222,545 2 ? ? ? Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 2 2 ? ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company

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