E5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: 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 470 $ 62,980 149,500 $ 212,480 ? ? ? 620 ? ? ? ? ? ? 770 ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $509 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 820 canoes. Complete the contribution margin income statement for the company.

E5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: 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 470 $ 62,980 149,500 $ 212,480 ? ? ? 620 ? ? ? ? ? ? 770 ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $509 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 820 canoes. Complete the contribution margin income statement for the company.

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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ok nces E5-18 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Riverside Incorporated makes one model of wooden canoe. Partial Information for it follows: 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 Unit contribution margin Contribution margin ratio Sales revenue Variable costs Gross margin Fixed costs Contribution margin Cost of goods sold Variable costs Gross margin Net operating income Scenario 1 Raises Sales Price to $730 per Canoe $ 550 540.00 $ 104,500 198,000 $ 302,500 $ 190.00 360.00 $ 550.00 Riverside sells Its canoes for $630 each. Next year Riverside expects to sell 1,000 canoes Required: Complete the Riverside's contribution margin Income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin…
/quiz/attempt.php?attempt3D1457214&cmid%3D719121&page%3D8%#3question-1620910-30 Academic O b. 38,500 O c. 56,000 O d. 101,500 e. 70,000 Clear my choice All else being equal, what happens to the unit contribution margin and the contribution margin ratio if the sales price per unit decrease? Select one: O a. Unit contribution margin increases while contribution margin ratio decreases. O b. Both unit contribution margin and contribution margin ratio increase. O c. None of the given answers. O d. Unit contribution margin decreases while contribution margin ratio increases. O e. Both unit contribution margin and contribution margin ratio are unchanged. Next page ge here to search