E6-5 (Static) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Incorporated, 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 820 canoes for $550 each. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. 5. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Complete this question by entering your answers in the tabs below. Complete the following table. Note: Round your answers to 2 decimal places. Complete the following table. Note: Round your answers to 2 decimal places. 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 820 canoes for $550 each. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each 5. Suppose Sandy Bank wants to eam $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Complete this question by entering your answers in the tabs below. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per cance and the contribution margin ratio. Note: Do not round your intermediate calculations. Round your petcentige answer to 2 decimal places. (i.e. 0.1234 shoutd be entered as 12.34%.). Round your Unit Contribution Margin answer to two decimal places. This year, Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the company. Note: Round your intermediate calculations to 2 decimal places. 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 rati 3. This year, Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the compar 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. 5. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Complete this question by entering your answers in the tabs below. Calculate Sandy Bank's break-even point in units and in sales doliars. Sandy Bank sells its canoes for $550 each. Note: Do not round your intermediate calculations. Round final answers to the-nearest whole number. 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 820 canoes for $550 each. Prepare a contribution margin income statement for the compan 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each 5. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Complete this question by entering your answers in the tabs below. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for 5550 each. Noter. Round Unit Contribution Margin to 2 decimal places. Round your answer to the nearest whole number
