Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help! Sandy Bank, Inc., makes one model of wooden canoe. Partial Information is given below. Required: 1. Complete the following table. 2. Suppose Sandy

please help!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 $510 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 $76,000 profit this year . Calculate the number of canoes 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.) 460 560 750 Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs $ 71,760 149,960 221,720 $ Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required Required 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 $510 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 $76,000 profit this year. Calculate the number of canoes 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 Suppose Sandy Bank sells its canoes for $510 each. Calculate the contribution margin per cance and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentage answer to 2 decimal places. (le, 1234 should be entered as 12.34%.)) per Canon Unit Contribution Margin Contribution Margin Ratio (Required 1 Required 3 > 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 $510 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 $76,000 profit this year. Calculate the number of canoes 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 This year Sandy Bank expects to sell 820 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 Contribution Margin Income from Operations 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 $510 each. Calculate the contribution margin per cance 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 $76,000 profit this year. Calculate the number of canoes 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 Calculate Sandy Bank's break even point in units and in sales dollars. (Round final answers to the nearest whole number.) Canoos Break-Even Units Break.Even Sales Revenue 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 $510 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 $76,000 profit this year. Calculate the number of canoes 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 Suppose Sandy Bank wants to earn $ 76,000 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 Canoes (Required 4 Reges

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

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

Accounting Ethics Education Making Ethics Real

Authors: Alberto J. Costa, Margarida M. Pinheiro

1st Edition

1032019999, 9781032019994

More Books

Students also viewed these Accounting questions