E5-14 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 Canoes Produced and Sold
		485		635		785
Total costs
Variable costs	$	66,445		?		?
Fixed costs		148,700		?		?
Total costs	$	215,145		?		?
Cost per unit
Variable cost per unit		?		?		?
Fixed cost per unit		?		?		?
Total cost per unit		?		?		?

Required: 1. Complete the table. (Round your cost per unit answers to 2 decimal places.) 3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) 4. Next year Riverside expects to sell 835 canoes. Complete the contribution margin income statement for the company.