Question
Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 550 700 850 Total costs
Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 550 700 850 Total costs Variable costs Fixed costs $ 79,200 148,800 ? ? ? ? Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 228,000 ? ? ? ? ? ? ? ? ? ? ? Total cost per unit Required: 1. Complete the table. 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 900 canoes. Complete the contribution margin income statement for the company.
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