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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Total costs Variable costs Total costs Cost per unit Variable cost
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Total costs Variable costs Total costs Cost per unit Variable cost per un Fixed cost per unt Total cost per unit Number of Cances Produced and Sold 670 520 $73,320 149,400 $222.720 Required: 1. Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 520 470 820 Total Costs Variable Costs Fixed Costs Total Costs $ 73.320 149,400 $ 222.720 Cost per Unit Variable Cost per Unt Fixed Cost per Unit Total Cost per Unit 3. Suppose Riverside sells its canoes for $502 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) Unit Contribution Margin Contribution Margin Ratio 4. Next year Riverside expects to sell 870 canoes. Complete the contribution margin income statement for the company. RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Contribution Margin Net Operating Income
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