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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs 600 800 950 Variable
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs 600 800 950 Variable costs Fixed costs $129,000 S172,000 $204,250 28,000 228,000 228,000 $357,000 S 400,000 $ 432,250 Total costs Cost per unit Variable cost per unit Fixed cost per unit S 215.00 S 215.00 215.00 240.00 595.00 S 500.00 $ 455.00 380.00 285.00 Total cost per unit Riverside sells its canoes for $670 each. Next year Riverside expects to sell 1,000 canoes. Required Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to two decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $770 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio Contribution Margin Income Statement Contribution Margin Scenario 1 Raises Sales Price to $770 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio Contribution Margin Income Statement Contribution Margin Net Operating Income
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