Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi Can somebody help me to do Section 4 and chake my work if it correct or not? 1 Sandy Bank, Inc., makes one model

Hi Can somebody help me to do Section 4 and chake my work if it correct or not?

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

1 Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. 2.5 points 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 780 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 $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. eBook Hint Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 480 570 750 Total costs Variable Costs $ 75,840 $ 154,560 230,400 $ Fixed Costs 90,060 $ 154,560 244,620 $ 118,500 154,560 Total Costs S 273,060 Cost per Unit S Variable Cost per Unit Fixed Cost per Unit 158.00 $ 322.00 480.00 $ 158.00 $ 271.16 429.16 $ 158.00 206.08 Total Cost per Unit $ 364.08 1 Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. 2.5 points 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 780 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 $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. eBook Hint Print Complete this question by entering your answers in the tabs below. References 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. (i.e. .1234 should be entered as 12.34%.)) $ Unit Contribution Margin Contribution Margin Ratio 392.00 per Canoe 71.001% 1 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 780 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 $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. 2.5 points eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 References Required 3 Required 4 Required 5 This year Sandy Bank expects to sell 780 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 Cost of Goods Sold $ 780 Sales Revenue 429,000 Variable Costs 123,240 $ Contribution Margin Fixed Costs 305,760 154,560 Income from Operations $ 151,200 1 Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. 2.5 points 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 780 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 $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. eBook Hint Print Complete this question by entering your answers in the tabs below. References 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 1 CU-layu) dicuiduilly LOLILIIDULIVIT IVICI ym dniu LOMILI IVULIUI VAI HI ROLIU, Tuentliymy diedkocven Point, Target Profit (LO 6-1, 6-2] Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. 2.5 points eBook 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 780 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 $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Hint Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $79,000 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 596 Canoes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Auditors Guide To Auditing Financial Statements In The UK

Authors: Steve Collings

1st Edition

1526527480, 978-1526527486

More Books

Students also viewed these Accounting questions

Question

=+18.7. Reconsider Problem 12.12.

Answered: 1 week ago

Question

8. Explain the contact hypothesis.

Answered: 1 week ago

Question

7. Identify four antecedents that influence intercultural contact.

Answered: 1 week ago