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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 500 700 850 Total costs Variable

Riverside Inc. makes one model of wooden canoe. Partial information for it follows:

Number of Canoes Produced and Sold 500 700 850
Total costs
Variable costs $ 90,000 $ 126,000 $ 153,000
Fixed costs 119,000 119,000 119,000
Total costs $ 209,000 $ 245,000 $ 272,000
Cost per unit
Variable cost per unit $ 180.00 $ 180.00 $ 180.00
Fixed cost per unit 238.00 170.00 140.00
Total cost per unit $ 418.00 $ 350.00 $ 320.00

Riverside sells its canoes for $500 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 two decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)

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Scenario1 Raises Sales Price to $600 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio Contribution Margin Income Statement Contribution Margin Net Operating Income

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