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Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank
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 $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 840 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 $85,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. 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 410 590 760 Total costs Variable Costs Fixed Costs Total Costs $ 62,320 $ 134,480 $ 196,800 $ 91,119 $ 134,480 225,599 $ 117,374 134,480 251,854 Cost per Unit Variable Cost per Unit $ 154.44 $ Fixed Cost per Unit 328.00 154.44 $ 228.00 X 154.44 X 177.00 Total Cost per Unit $ 482.44 $ 382.44 $ 331.44
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