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I am forced to take accounting, please answer all the questions. Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.
I am forced to take accounting, please answer all the questions. Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.
Required:
- Complete the following table.
- Suppose Sandy Bank sells its canoes for $570 each. Calculate the contribution margin per canoe and the contribution margin ratio.
- This year Sandy Bank expects to sell 820 canoes for $570 each. Prepare a contribution margin income statement for the company.
- Calculate Sandy Banks break-even point in units and in sales dollars. Sandy Bank sells its canoes for $570 each.
- Suppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $570 each.
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