50.1K

Verified Solution

Link Copied!

Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $502 each. Calculate the contribution margin per canoe and the contribution margin ratic 4. Next year Riverside expects to sell 830 canoes. Complete the contribution margin income statement for the company. Camplete this question by entering your answers in the tabs below. Complete the table. Note: Round your cost per unit answers to 2 decimal places. \begin{tabular}{|c|c|c|c|c|c|c|} \hline Mumber of Canoes Produced and Sold & \multicolumn{2}{|c|}{480} & \multicolumn{2}{|c|}{630} & \multicolumn{2}{|c|}{760} \\ \hline \multicolumn{7}{|l|}{ Total costs } \\ \hline Variable costs & 3 & 67,050 & & & & \\ \hline Fbued costs & & 148,600 & & & & \\ \hline Total costs & s & 216200 & 5 & 0 & 5 & 0 \\ \hline \multicolumn{7}{|l|}{ Cost per unt } \\ \hline \multicolumn{7}{|l|}{ Variable cost per unit } \\ \hline \multicolumn{7}{|l|}{ Fixed cost per unit } \\ \hline Total cost per unt & 5 & 0.00 & 5 & 0.00 & 5 & 0.00 \\ \hline \end{tabular} Suppose Riverside sells its canees for $502 each. Calculate the contribution margin per canee and the contribution margin ratio. Noter Round your contribution margin to the nearest whole dollar and vour contribution margin retio to the nearest whole percent. Show less A Unt contribution margin per canoe Contribution maroin ratio Next year Riverside expects to sell 830 canoes. Complete the contribution margin income statement for the company. Note: Round your Contribution margin to 2 decimal places

Answer & Explanation Solved by verified expert

See Answer