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 $530 each. Calculate the contribution margin per canoe 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 $75,000 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 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 420 630 760 Total costs Variable Costs 65,520 $ 98,280 $ 118,560 Fixed Costs 140,700 140,700 140,700 Total Costs 206,220 $ 238,980 $ 259,260 Cost per Unit Variable Cost per Unit $ 156.00 $ 156.00 $ 156.00 335.00 223.33 185.13 Fixed Cost per Unit Total Cost per Unit $ 491.00 $ 379.33 $ 341.13 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $530 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%.)) Unit Contribution Margin $ 374.00 per Canoe Contribution Margin Ratio 70.56% 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 $ 413,400 I Variable Costs 121,680 Contribution Margin $ 291,720 Fixed Costs Income from Operations 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.) Break-Even Units Canoes Break-Even Sales Revenue Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $75,000 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.) Target Sales Units Canoes