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E 6 - 5 ( Algo ) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break - Even Point, Target Profit [ LO 6 -

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:
Complete the following table.
Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin ration.
This year Sandy Bank expects to sell 790 canoes for $530 each. Prepare a contribution margin income statement for the company.
Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each.
Suppose Sandy Bank wants to earn $77,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $530 each.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Required 4
Required 5
Complete the following table.
Note: Round your "Cost per Unit" answers to 2 decimal places.
\table[[Number of Canoes Produced and Sold,430,580,710],[Total costs],[Variable Costs,$,61,490,,,,],[Fixed Costs,,138,460,,,+8,],[Total Costs,$,199,950,$,0,$,0],[Cost per Unit],[Variable Cost per Unit],[Fixed Cost per Unit],[Total Cost per Unit,$,0.00,$,0.00,$,0.00]]
Please solve 1-5
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