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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 $590 each. Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 820 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 $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) 460 630 790 Nurnber of Canoes Produced and Sold Total costs Variable Costs Fixed Costs $ 64,860 155,940 $ 220,800 $ 0 $ Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit $ 0.00 $ 0.00 0.00 $ Required 2 > target. Complete this question by entering your answers in the tabs below. Requirt 2 Required 1 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the cu ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentage decimal places. (l.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % 5 mework Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin pe 3. This year Sandy Bank expects to sell 820 canoes. Prepare a contribution margin income 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of cand target. 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 th Canoes Break-Even Units Break-Even Sales Revenue Next