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 800 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 $71,000 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.) 500 640 760 Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs $ 78,000 160,500 238,500 $ $ 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 > Meu. 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 re 3. This year Sandy Bank expects to sell 800 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 $71,000 profit this year. Calculate the number of canoes that must be sold to achieve this tam Complete this question by entering your answers in the tabs below. 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. (...1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribution ma 3. This year Sandy Bank expects to sell 800 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 $71,000 profit this year. Calculate the number of canoes that must be sold to achieve Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 This year Sandy Bank expects to sell 800 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 RE TH Movt 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribut 3. This year Sandy Bank expects to sell 800 canoes. Prepare a contribution margin income statement for the compan 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $71,000 profit this year. Calculate the number of canoes that must be sold to ac Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Canoes Break-Even Units Break-Even Sales Revenue 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 mar 3. This year Sandy Bank expects to sell 800 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 $71,000 profit this year. Calculate the number of cances that must be sold to achieve th Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required s Suppose Sandy Bank wants to earn $71,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round Unit Contribution Margin to 2 decimal places, Round your answer to the next whole number.) Targot Sales Units Canoes
