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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 550 750 900 Total costs Variable
Riverside Inc. makes one model of wooden canoe. Partial information for it follows:
Number of Canoes Produced and Sold | 550 | 750 | 900 | ||||||
Total costs | |||||||||
Variable costs | $ | 112,750 | $ | 153,750 | $ | 184,500 | |||
Fixed costs | 148,500 | 148,500 | 148,500 | ||||||
Total costs | $ | 261,250 | $ | 302,250 | $ | 333,000 | |||
Cost per unit | |||||||||
Variable cost per unit | $ | 205.00 | $ | 205.00 | $ | 205.00 | |||
Fixed cost per unit | 270.00 | 198.00 | 165.00 | ||||||
Total cost per unit | $ | 475.00 | $ | 403.00 | $ | 370.00 | |||
Riverside sells its canoes for $550 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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