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 $590 each. Calculate the contribution margin per canoe and the contribution margin ratio.

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

4. Calculate Sandy Banks break-even point in units and in sales dollars.

5. Suppose Sandy Bank wants to earn $77,000 profit this year. Calculate the number of canoes that must be sold to achieve this target.

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 470 650 790 Total costs Variable Costs $ 70,970 Fixed Costs 152,750 Total Costs 223,720 $ 0 $ 0 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit $ $ 0.00 $ 0.00 $ 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $590 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. (i.e. .1234 should be entered as 12.34%.)) per Canoe Unit Contribution Margin Contribution Margin Ratio % This year Sandy Bank expects to sell 830 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 Contribution Margin Income from Operations Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Canoes Break-Even Sales Revenue