Sandy Bank, Inc., makes one model of wooden canoe. Partial information for it follows:

Required:

1. Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.

Number of Canoes Produced and Sold	410	570	710
Total Costs
Variable Costs	$ 64,780
Fixed Costs	133,250
Total Costs	$ 198,030	$	$
Cost Per Unit
Variable Cost Per Unit
Fixed Cost Per Unit
Total Cost Per Unit	$	$	$

2. Suppose Sandy Bank sells its canoes for $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your "percentage" answer to 2 decimal places.)

Unit Contribution Margin		Per Canoe
Contribution Margin Ratio		%

3. This year Sandy Bank expects to sell 830 canoes. Prepare a contribution margin income statement for the company.

SANDY BANK INC.

CONTRIBUTION MARGIN INCOME STATEMENT

FOR THE CURRENT YEAR

Contribution Margin
Income From Operations

4. Calculate Sandy Banks break-even point in units and in sales dollars. (Round your intermediate calculations to 2 decimals. Round your final answers to the nearest whole number.)

Break-Even Units		Canoes
Break-Even Sales Revenue

5. Suppose Sandy Bank wants to earn $69,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round your answer to the next whole number.)

Target Sales Units

Canoes