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E6-6 (Algo) Identifying Break-Even Point, Analyzing How Price Changes Affect Profitability; Calculating Margin of Safety, Target Profit (LO 6-1, 6-2, 6-3, 6-4) Sandy Bank, Inc., makes one model of wooden canoe, and, the information for it follows: 500 200 Number of cances produced and sold Total cost Variable costs Pixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 5 92,500 $125,500 $271,000 $129,500 $128.500 $300,000 850 $157,250 5178.500 3335,750 $185.00 357.00 $ 542.00 $185.00 255.00 $ 440.00 $ 165.00 210.00 $395.00 Sandy Bank sells its canoes for $375 each. Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales dollars. 2. If Sandy Bank sells 1560 canoes, compute its margin of safety in dollars and as a percentage of sales. Use the new sales price of $500.) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $120,000 profit Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales dollars. (Do not round intermediate calculations, Round your final answers to nearest whole number.) New Break-Even Units Break-Even Sales Revenue Canoes Required Required 2 > Required 1 Required 2 Required 3 If Sandy Bank sells 1,560 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use then price of $500.) (Round your answers to the nearest whole number.) Margin of Safety Percentage of Sales % Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $120,000 profit. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Target Sales Units Canoes