Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and sold 510 660 810 2 5 71,918

image text in transcribed
image text in transcribed
image text in transcribed
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and sold 510 660 810 2 5 71,918 149, 100 $221,818 ? ? ? Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit ? ? ? ? Required: 1. Complete the table 3. Suppose Riverside sells its canoes for $517 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 860 canoes Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required: Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) 510 660 810 $ Number of Canoes Produced and Sold Total Costs Variable Costs Fored Costs Total Costs Cost per Unit Variable Cost per Unit Fired Cost per Unit Total Cost per Unit 71,010 140, 100 221.010s $ 0 $ 0.00 $ 0.00 S 0.00 Riverside Inc, makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 510 660 810 $ 71,918 149, 100 $221,010 ? 2 ? ? ? ? Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit ? ? ? ? 2 ? ? 2 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $517 each. Calculate the contribution margin per canoe and the contribution margin 4. Next year Riverside expects to sell 860 canoes Complete the contribution margin income statement for the company Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Suppose Riverside sells its cances for $517 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.) per canoe Unit Contribution Margin Contribution Margin Ratio 96 Required: 1. Complete the table 3. Suppose Riverside sells its canoes for $517 each Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 860 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Next year Riverside expects to sell 860 canoes. Complete the contribution margin income statement for the company. (Round your Contribution margin to 2 decimal places.) RIVERSIDE INC Contribution Margint Income Statement For the Next Year Sales Revenue Variable Costs Contribution Margin Fixed Costs Net Operating Income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction to Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

7th edition

978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792

Students also viewed these Accounting questions