Question
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Total costs Variable costs $ 50,000 $75,000 Number of Canoes Produced
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Total costs Variable costs $ 50,000 $75,000 Number of Canoes Produced and Sold 400 600 750 $93,750 90,000 90,000 $183,750 Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 90,000 $140,000 $165,000 $ 125.00 $ 125.00 $ 125.00 225.00 150.00 120.00 $ 350.00 $275.00 $ 245.00 Riverside sells its canoes for $430 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 2 decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)
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