E5-17 (Static) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Variable costs Total costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 540 620 780 $ 67,500 150,000 $ 217,500 7 ? 7 ? 3. Suppose Riverside sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 700 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. Note: Round your cost per unit answers to 2 decimal places. Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 540 $ 67,500 150,000 $ 217,500 620 780 E5-17 (Static) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit. Fixed cost per unit Total cost per unit Required: 1. Complete the table. 5401 620 780 $67,500 7 150,000 7 ? $217,500 ? 7 7 7 3. Suppose Riverside sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 700 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. Note: Round your contribution margin ratio to nearest whole percent. Unit contribution margin Contribution margin ratio per canoe < Prev 9 of 9 Next > Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 540 620 780 Total costs Variable costs $ 67,500 ? Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 150,000 $217,500 ? ? ? ? ? ? ? 7 ? 1. Complete the table. 3. Suppose Riverside sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 700 canoes. Complete the contribution margin income statement for the company." Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Next year Riverside expects to sell 700 canoes. Complete the contribution margin income statement for the company. Riverside Incorporated Contribution Margin Income Statement For the Next Year Contribution margin Net operating income < Prev 9 of 9 Next >