E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio: Identifying Break-Even Point, Target Profit (LO 6-1, 6-2] Sandy Bank Ind makes one model of wooden canoe Pantial information is given below Required: 1. Complete the following table 2. Suppose Sanay Bank sells its canoes for $580 each Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 820 canoes Prepare a contribution margin income statement for the company 4. Calculate Sanay Bank's break even point in units and in sales dollars 5. Suppose Sandy Bank wants to earn $80,000 profa 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: Recured 2 Required Required 4 Required 5 Complete the following table. (Round your 'Cost per und answers to 2 decimale) 600 730 140 Number of cances Produced and Sold Tot costs Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) 440 600 730 $ 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 62,040 143,880 205,920 $ $ 0$ 0 $ 0.005 0.00 $ 0.00 5. Suppose Sandy Bank wants to earn $80,000 profit this year Calculate the number of canoes that must be sold to achieve th target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $580 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 (.e: 1234 should be entered as 12.349.)) 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 5 This year Sandy Bank expects to sell 820 cances. 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 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 (Bound final answers to the nearest whole number) Canoes Break-Even Units Break-Even Sales Revenue 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 $80,000 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 Ses Units Canoes Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 This year Sandy Bank expects to sell 820 cances. 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 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 (Bound final answers to the nearest whole number) Canoes Break-Even Units Break-Even Sales Revenue 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 $80,000 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 Ses Units Canoes
