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. Partial information is given below. Required: 1. Complete the following table 2. Suppose Sandy Bank sells its canoes for $570 each. Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 850 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 574,000 profit this year Calculate the number of cances that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required Required 2 Required Required 4 Required Complete the following table. (round your "Cost per Unit" answers to 2 decimal places) 100 570 710 $ Number of Canoes Produced and Sold Total costs Variable costs Fixed Costs Total Costs Cost per Unit Variatie Cost per Unit Fred Cost per Unit Total Cost per Unit 57600 120.000 186000 5 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $570 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. (.e. 1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required 5 This year Sandy Bank expects to sell 850 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Canoes Break-Even Units Break Even Sales Revenue Required: Calculate the break even sales revenue for each company. (Round your "Contribution Morgin Ratio" percentage to 2 decimal places li.e. 1524 = 15.24%) and final answers to 2 decimal places.) Remo Co. Angelo Inc Break Even Sales Revenue