complete the following please E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Incorporated, makes
E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $570 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 780 canoes for $570 each. Prepare a contribution margin income statement for the compony- 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $570 each. 5. Suppose Sandy Bank wants to earn $84,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $570 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4. ' Required Complete the following table. Note: Round your "Cost per unit" answers to 2 decimal blaces: umber of Choes Produ&d and Sold Total costs Variable Costs Costs Total Costs Cost per UM Variable Cost per Unn Fbced Cost per Unit Total Cost per Unn 570 72,850 s s 156510 229,360 0.00 o 0.00 Required 2 s 000
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