Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.

Required:

Complete the following table.

# of Canoes Produced and Sold 400 600. 700

Total Costs:

Variable Costs $67,500

Fixed Costs. $150,000

Total Costs $217,500

Cost per Unit

Variable Cost per unit

Fixed cost per unit

Total cost per unit

Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio.

This year, Sandy Bank expects to sell 820 canoes for $550 each. Prepare a contribution margin income statement for the company.

Calculate Sandy Banks break-even point in units and in sales dollars. Sandy Bank sells its canoes for $550 each.

Suppose Sandy Bank wants to earn $75,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $550 each.