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: 600 Number of Canoes Produced and Sold 400 Total costs Variable costs $ 54,000 Pixed conts 60.000 Total costs $114,000 Cost per unit Variable cont per unit $ 135.00 Pixed cost per unit 150.00 Total cost per unit $ 285.00 $ 81,000 60.000 $141,000 $101,250 60,000 $161,250 $135.00 100.00 $ 235.00 135.00 80.00 $ 215.00 Riverside sells its canoes for $370 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 (ie. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) 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 (ie. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $470 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent 258.50 Scenario 3 Decrease Fixed Cost by 20 Percent 335.00 235.00 Unit Contribution Margin Contribution Margin Ratio 71.28 63.51 % 63.51 Sales Revea l Contribution Margin Income Statement s 188 000 244,200 54,000 89,100 277.500 101,250 Variable costs $ 134000 $ $ Contribution Margin Flaxed costs 155,100 50.000 175.250 48,000 60,000 Net Operating Income $ 128,250