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Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 400 600 750 Total costs Variable
Riverside Incorporated makes one model of wooden canoe. Partial information for it follows:
Number of Canoes Produced and Sold | 400 | 600 | 750 |
---|---|---|---|
Total costs | |||
Variable costs | $ 54,000 | $ 81,000 | $ 101,250 |
Fixed costs | 60,000 | 60,000 | 60,000 |
Total costs | $ 114,000 | $ 141,000 | $ 161,250 |
Cost per unit | |||
Variable cost per unit | $ 135.00 | $ 135.00 | $ 135.00 |
Fixed cost per unit | 150.00 | 100.00 | 80.00 |
Total cost per unit | $ 285.00 | $ 235.00 | $ 215.00 |
Riverside sells its canoes for $370 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.
Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.
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