Question
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 450 650 800 Total costs Variable
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 450 650 800 Total costs Variable costs $ 63,000 $ 91,000 $ 112,000 Fixed costs 187,200 187,200 187,200 Total costs $ 250,200 $ 278,200 $ 299,200 Cost per unit Variable cost per unit $ 140.00 $ 140.00 $ 140.00 Fixed cost per unit 416.00 288.00 234.00 Total cost per unit $ 556.00 $ 428.00 $ 374.00 Riverside sells its canoes for $700 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riversides contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riversides 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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