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Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank
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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 770 canoes for $520 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 $520 each. 5. Suppose Sandy Bank wants to earn $84,000 profit this year. Calculate the number of canoes that must be sold to achieve this target Sandy Bank sells its canoes for $520 each. 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. Note: Round your "Cost per Unit" answers to 2 decimal places. Number of Canoes Produced and Sold 430 Total costs Variable Costs $ 63,640 Fixed Costs 138,460 Total Costs $ 202,100 Cost per Unit Variable Cost per Unit 610 760
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