E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratlo; 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 $550 each. Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 840 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 com $69,000 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 1 Required 2 Required Required Required Complete the following table. (Round your "Cost per Unit" answers to 2 dedmal places) Number of Canos Procurand and sold 410 Total costa Variable Costs 5 12.320 Fixed Costs 138,170 Total Costs 5 200 400 Cost per Unit Variable Cooper Unit Fuad Cost per Unit Total Cost per Unit Required 2 > Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $550 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. (le, 1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio por Cance % Required 1 Required 2 Required 3 Required 4 Required 5 This year Sandy Bank expects to sell 840 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 Your 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.) Break-Even Units Break-Even Sales Revenue Cances Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Required 4 Requirds Suppose Sandy Bank wants to earn $69,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round Unit Contribution Margin to 2 decimal places. Round your answer to the next whole number.) Target Sales Units Canoes