Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 455 605 755 Total costs

image text in transcribedimage text in transcribedimage text in transcribed

Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 455 605 755 Total costs Variable costs Fixed costs $ 65,520 149,000 ? ? ? ? Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 214,520 ? ? ? ? ? ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $512 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 805 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 Complete the table. Note: Round your cost per unit answers to 2 decimal places. Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 455 605 755 $ 65,520 149,000 $ 214,520 $ 0 $ 0 0.00 $ 0.00 $ 0.00 < Required 1 Required 3 > Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 455 605 755 Total costs Variable costs Fixed costs $ 65,520 149,000 ? ? ? ? Total costs $ 214,520 ? ? 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 $512 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 805 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 canoes for $512 each. Calculate the contribution margin per canoe and the contribution margin ratio. Note: Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent. Unit contribution margin Contribution margin ratio per canoe % < Required 1 Required 4 > Show less Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 455 605 755 Total costs Variable costs Fixed costs $ 65,520 149,000 $ 214,520 ? ? ? ? ? 2 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 2 2 2 222 ? 2 ? 3. Suppose Riverside sells its canoes for $512 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 805 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 805 canoes. Complete the contribution margin income statement for the company. Note: Round your Contribution margin to 2 decimal places. RIVERSIDE INCORPORATED Contribution Margin Income Statement For the Next Year Contribution margin Net operating income Required 3 Required 4 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Fundamental financial accounting concepts

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

8th edition

978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365

More Books

Students also viewed these Accounting questions

Question

What are the types of production systems in aquaculture?

Answered: 1 week ago

Question

34. Provide an example of value stream mapping.

Answered: 1 week ago

Question

37. What are the 5Ss of housekeeping? What is the sixth?

Answered: 1 week ago