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Wave Runners is a boat rental business that has the following costs over the relevant range of 24,000 to 30,000 operating hours for its boats:
Wave Runners is a boat rental business that has the following costs over the relevant range of 24,000 to 30,000 operating hours for its boats:
Required:
1. Complete the schedule of the companys total and unit costs. (Round "Cost per unit" answers to 2 decimal places.)
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2. Assume that Wave Runners rents it boats for $42 per hour and had 27,000 hours of rentals last year. Prepare a contribution format income statement for the year.
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