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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 510 660 810 Total costs Variable
| Riverside Inc. makes one model of wooden canoe. Partial information for it follows: |
| Number of Canoes Produced and Sold | ||||||
| 510 | 660 | 810 | ||||
| Total costs | ||||||
| Variable costs | $ | 68,850 | ? | ? | ||
| Fixed costs | 149,200 | ? | ? | |||
| Total costs | $ | 218,050 | ? | ? | ||
| Cost per unit | ||||||
| Variable cost per unit | ? | ? | ? | |||
| Fixed cost per unit | ? | ? | ? | |||
| Total cost per unit | ? | ? | ? | |||
| Required: | |
| 1. | Complete the table. (Round your cost per unit answers to 2 decimal places.) |
| 3. | Suppose Riverside sells its canoes for $502 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. |
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