E6-5 Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2]

E6-5 Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Inc., makes one model ot wooden canoe. Partial intormation tor it follows: Required: 1. Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) mber of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per unit Fixed Cost per unit Total Cost per Unit s s 66,220 145,340 211,560 2. Suppose Sandy Bank sells its canoes tor $590 eacrL 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. (i.e. .1234 should be entered as 12.34%.)) unit Contribution Margin Contribution Margin Ratio per Canoe