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 850 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 cances 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 "Cont per Unit" answers to 2 decimal places) 490 560 720 $ Number of Cances Produced and Sold Total costs Variable Costs Fixed Costs Total Costs Cost per Unit 70.070 158.760 228 8305 $ OS 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.) 490 Number of Canoes Produced and Sold 560 720 Total costs Variable Costs Fixed Costs $ 70,070 158 760 228,8305 $ 0 Total Costs 0 Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit $ 0.00 $ 0.00 0 00 Required 2 > 5. Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve thi target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Suppose Sandy Bank seils its canoes for $550 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. L. 1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required s This year Sandy Bank expects to sell 850 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 Round 2 Roomid Complete this question by entering your answees 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 fintal answers to the nearest whole number Break-Even Units Break-Even Sales Revenue Canoes Complete this question by entering your answers in the tabs below. 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
