6 E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5) 4 points eBook Hirit Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and sold 700 Total costs Variable costs $ 90,000 $126,000 $153,000 Fixed costs 119, een 119,000 119,000 Total costs $209,000 $245,600 $272,000 Cost per unit Variable cost per unit $180.00 $ 180.00 $180.00 Fixed cost per unit 238.00 170.00 140.00 Total cost per unit 5418.ee $350.00 $320.ee Print References Riverside sells its canoes for $500 each. Next year Riverside expects to sell 1000 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 (ie. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $600 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent I Unit Contribution Margin Contribution Margin Ratio %6 wyd 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 (ie. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) 4 points Scenario 1 Raises Sales Price to $600 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario a Decrease Fixed Cost by 20 Percent Hir Print Unit Contribution Margin Contribution Margin Ratio References % Contribution Margin Income Statement 15,000 Sales Revenue Contribution Margin Net Operating Income