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1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin rat 3. This year Sandy Bank expects to sell 810 canoes for $530 each. Prepare a contribution margin income statement for the compan 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $530 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. 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 $ $ 410 < Required 1 61,910 137,760 199,670 650 Required 2 > 750

1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin rat 3. This year Sandy Bank expects to sell 810 canoes for $530 each. Prepare a contribution margin income statement for the compan 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $530 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. 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 $ $ 410 < Required 1 61,910 137,760 199,670 650 Required 2 > 750

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 canoes for $530 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $530 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Number of Canoes Produced and Sold Total costs Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Required 4 Total Cost per Unit $ $ 410 Required 5 < Required 1 61,910 137,760 199,670 650 Required 2 > 750
Transcribed Image Text:Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 canoes for $530 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $530 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Number of Canoes Produced and Sold Total costs Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Required 4 Total Cost per Unit $ $ 410 Required 5 < Required 1 61,910 137,760 199,670 650 Required 2 > 750
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