E5-16 Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Riverside Inc. makes one model of wooden canoe. Partial information for it follows: 650 800 Number of Canoes Produced and Sold Total costs 450 Variable costs Fixed costs $ 67,500 97,500 $120,000 374,400 374,400 374,400 $441,900 $ 471,900 $494,400 Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 150.00 832.00 150.00 150.00 468.00 576.00 Total cost per unit $ 982.00 $ 726.00 $ 618.00 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes