E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio: Identifying Break-Even Point, Target Profit (LO 6-1, 6-2] Sandy Bank, Inc., makes one model of wooden canoe. Partioinformation is given below Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $510 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 750 canoes. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $73,000 profit this year. Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Required 4 Required Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places) Number of Canons Produced and Sold 470 560 700 Total costs Variable costs $ 69,560 Fixed Costs 156,080 Total Costa 5 226,640 $ 05 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit S 0.005 0.005 0 0.00 Required 1 Required 2 Required 3 Required Required 5 Suppose Sandy Bank sells its canoes for $510 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places, Round your percentage answer to 2 decimal places (ie. .1234 should be entered as 12:34%.)) Unit Contribution Margin Contribution Margin Ratio per Cance Required 1 Required 2 Required 3 Required 4 Required 5 This year Sandy Bank expects to sell 750 canoes. Prepare a contribution margin income statement for the company. (Round your intermediate calculations to 2 decimal places.) SANDY BANK, Inc Contribution Margin Income Statement For the current Year Contribution Margin Income from Operations Required: Required 2 Required 3 Required 4 Required 5 Calcutate Sandy Bank's break-even point in units and in sales dollars. (Round in answers to the nearest whole number.) Cances Brook Even Units Break Evan Sales Revenue Required Required 2 Required 3 Required 4 Required Suppose Sandy Bank wants to earn $73,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Hound Unit Contribution Hargin to 2 decimal places, Round your answer to the next whole number) Cance