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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: $ 92,500 178,500 $271,000 $129,500 $157,250 178,500 178,500 $308,000 $335,750 Number
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: $ 92,500 178,500 $271,000 $129,500 $157,250 178,500 178,500 $308,000 $335,750 Number of Canoes Produced and Sold 500 700 850 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 185.00 357.00 $ 185.00 255.00 Total cost per unit $ 542.00 $ 440.00 $ 185.00 210.00 $ 395.00 Riverside sells its canoes for $650 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.) Unit Contribution Margin Contribution Margin Ratio Scenario 1 Raises Sales Price to $750 per Canoe % Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Contribution Margin Income Statement % Scenario 3 Decrease Fixed Cost by 20 Percent %
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