Sandy Bank, Incorporated, 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 800 canoes for $550 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. Required 11 Required 2 Required 3 Required 4 Required 5 Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 430 610 720 $ 62,780 145,770 $ 208,550 $ 0 $ $ 0.00 $ 0.00 $ 0.00 < Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 51 Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. Note: Round your intermediate calculations and Unit Contribution Margin answer to two decimal places. Round your "percentage" answer to 2 decimal places. (i.e. 0.1234 should be entered as 12.34%.) Unit Contribution Margin Contribution Margin Ratio per canoe % Show less A < Required 1 Required 3> Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3. Required 4 Required 5 This year Sandy Bank expects to sell 800 canoes for $550 each. Prepare a contribution margin income statement for the company. Note: Round your intermediate calculations to 2 decimal places.) SANDY BANK, INCORPORATED Contribution Margin Income Statement For the Current Year Contribution Margin Income from Operations Sandy Bank, Incorporated, 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 3. This year Sandy Bank expects to sell 800 canoes for $550 each. Prepare a contribution margin income statement for the comp 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each. 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. Sandy Bank sells its canoes for $550 each. Note: Do not round your intermediate calculations. Round final answers to the nearest whole number. Break-Even Units Break-Even Sales Revenue Canoes target. Sandy Bank sells its 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 $67,000 profit this year. Calculate the number of canoes that must be sold to achieve # target. Sandy Bank sells its canoes for $550 each. Note: Round Unit Contribution Margin to 2 decimal places. Round your answer to the nearest whole number. Target Sales Units Canoes