E5-19 (Algo) 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: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit 500 700 850 $87,500 178,500 $122,500 178,500 $148,750 178,500 $266,000 $301,000 $327,250 Variable cost per unit Fixed cost per unit Total cost per unit $175.00 $175.00 357.00 255.00 $ 175.00 210.00 $ 532.00 $430.00 $385.00 Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $750 per Canoe Scenario 2 Increase. Sales Price and Variable Cos Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio % Contribution Margin Income Statement Contribution Margin 13 < Prev 7 of 8 Next > valable cost per unst Fixed cost per unit Total cost per unit 40.00 357.00 210.00 430.00 $385.00 21 po eBook Riverside sells its canoes for $650 each. Next y. Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's onginal data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (ie. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Haises Sales Price to $750 Scasio 2 incre Sales Price and Prve Unit Contibution Margin References Contibution Margin Ratio Scanacio 3 Dece Fixed Cost by 20 Pesent Contribution Margin Net Operating Income Contribution Margin income Siament