Riverside Inc. makes one model of wooden canoe. Partial information...
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Accounting
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and sold 540 620 780 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 Required: 1. Complete the table. (Round your cost per unit answers to 2 decimal places.) I 540 620 780 $ 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 67,500 150,000 217,500 $ 3. Suppose Riverside sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) Unit Contribution Margin Contribution Margin Ratio 4. Next year Riverside expects to sell 700 canoes. Complete the contribution margin income statement for the company. RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Contribution Margin Net Operating Income
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