E$6-5($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 $$560$ each. Calculate the contribution margin per canoe and the contribution margin ratio.

This year Sandy Bank expects to sell $760$ canoes for $$560$ 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 $$560$ each.

Suppose Sandy Bank wants to earn $$72,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target Sandy Bank sells its canoes for $$560$ each.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$

Complete the following table.

Note: Round your "Cost per Unit" answers to $2$ decimal places.

$\backslash$table$[[$Number of Canoes Produced and Sold,,$500,,600,,],[$Total costs,,,,,,$],[$Variable Costs,$$,77,500,,,,],[$Fixed Costs,$87,169,500,,,,],[$Total Costs,$$,247,000,$$$,0,$$$,0],[$Cost per Unit,,,,,,$],[$Variable Cost per Unit,,$\%,,,,],[$Fixed Cost per Unit,,,,,,$],[$Total Cost per Unit,$$,0\mathrm{.}00,$$$,0\mathrm{.}00,s,000]]$