Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe

please help me
image text in transcribed
image text in transcribed
Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 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 cances that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) 480 550 780 Number of Canoes Produced and Sold $ Total costs Vanablo Costs Fixed Costs Total Costs 72.480 $ 155,520 228,000 $ 83 050 s 155,520 238 570 S 117,7801 155,520 273 300 $ $ 15100 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 151 00 $ 32400 475 00 $ 151 00 $ 283 00 434 00 $ 199.00 350 00 $ Reu1 Required 2 > Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution marg 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 th target. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required ces Suppose Sandy Bank sells its canoes for $530 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. (...1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio 379.00 per Canoe

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Managerial Accounting Decision Making and Motivating Performance

Authors: Srikant M. Datar, Madhav V. Rajan

1st edition

132816245, 9780132816243, 978-0137024872

Students also viewed these Accounting questions