Sandy Bank, Inc, makes one model of wooden canoe. Partial Information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $570 each. Calculate the contribution margin per cance and the contribution margin ratio 3. This year Sandy Bank expects to sell 780 canoes. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $80,000 profit this year Calculate the number of conces that must be sold to achieve this target Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required: Required 2 Required Required Required Complete the following table. (Round your cost per unitswer to 3 decimal places) 400 000 780 S Number of Canoes Produced and sold Yotal costs Variable costs Fixed costs Total Costs Cost per Unit Vari Anar 68.000 149.040 217.120 80 000 149.000 237340 115.440 149.00 26440 TO an & Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 460 600 780 Total costs Variable Costs s 68,080 IS Is 115,440 Fixed Costs 88.800 149 040 237,840 149.040 217 120 149.040 Total Costs S S IS 264 480 S 148.00 S Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 148.00 S 251 74% 399.74 s 148.00 327.26 193.00 X S 341.00 s 475 26 Required 2 > 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $570 each. Calculate the contribution margin per canoe and the contribution margin 3. This year Sandy Bank expects to sell 780 canoes. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $80,000 profit this year. Calculate the number of canoes that must be sold to achieve this target Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Suppose Sandy Bank sells its canoes for $570 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentage" answer to 2 decimal places. (.e. 1234 should be entered as 12:34%)) S Unit Contribution Margin Contribution Margin Ratio 422.00 per Cance 74.00 X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required This year Sandy Bank expects to sell 780 canoes. Prepare a contribution margin income statement for the company. (Round your intermediate calculations to 2 decimal places.) SANDY BANK, Inc. Contribution Margin Income Statement For the Current Year Sales Revenue 444.800 Variable costs 84 360 5 Contribution Margin Fixed Costs 360 240 149.040 Income from Operations 3 211 200
