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 Cancon Produced and sold 470 620 770 Total costs Variable costs $ 64,860 2 2 Fixed costs 149, 700 2 2 Total costa $214,560 2 Cost per unit Variable cost per unit 7 Fixed cost per unit 7 2 Total cost per unit 2 2 7 7 2 2 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $514 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 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 470 620 770 Total Costs Variable Costa $ 64,860 Fixed Costs 149.700 Total Costs $ 214,560 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit R Required 3 > 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 conta Variable costs $ 64,860 2 2 Yixed costs 149,700 2 2 Total conta $214,560 7 Cost per unit Variable cost per unit 2 2 Fixed cost per unit Total cost per unit 2 2 2 2 2 2 2 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $514 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 Suppose Riverside sells its canoes for $514 each. Calculate the contribution margin per cance 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 Contribution Margin Ratio per cance % 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: Humber of Cance Produced and sold 470 620 770 Total coats Variable costs $ 64,860 7 Tixed costo 149,700 7 Total costa $214,560 2 Cost per unit Variable cost per unit 2 2 ? Fixed cost per unit 2 2 2 Total cost per unit 2 2 2 2 7 2 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $514 each. Calculate the contribution margin per canoe and the contribution margin rato. 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 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
