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 SoldTotal costsVariable costsFixed costsTotal costsCost per unitVariable cost per unitFixed cost per unitTotal cost per unitRequired 1 Required 3Variable costsFixed costs515$ 72,615149,300$ 221,915Number of Canoes Produced and SoldTotal costsTotal costsCost per unitVariable cost per unitFixed cost per unitRequired:1. Complete the table.3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio.4. Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company.Required 4Total cost per unit77Complete the table.Note: Round your cost per unit answers to 2 decimal places.$$665$751572,615149,300221,915 $8150.00 $777< Required 177665149,300149,300 $0.00 $815149.300149,3000.00Required 3> Complete this question by entering your answers in the tabs below.Required 1 Required 3Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution marginratio.Note: Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest wholepercent.Unit contribution marginContribution margin ratioRequired 4Contribution marginper canceNet operating income< Required 1Required 1 Required 3 Required 4Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company.Note: Round your Contribution margin to 2 decimal places.RIVERSIDE INCORPORATEDContribution Margin Income Statement+For the Next YearRequired 4 >< Required 3Required 4 >

Variable costs are costs that varies with the number of units sold or produced. Fixed costs are…

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 515 $ 72,615 149,300 $ 221,915 665 7 7 ? 7 815 7 7 7 7 7 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 865 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 515 $ 72,615 149,300 $ 221,915 665 7 7 ? 7 815 7 7 7 7 7 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 865 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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Ces 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 Required 1 Required 3 Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Complete this question by entering your answers in the tabs below. Required 4 Complete the table. Note: Round your cost per unit answers to 2 decimal places. Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $503 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company. $ 505 $ $ 70,700 148,700 $ 219,400 $ 505 2 7 ? 70,700 148,700 219,400 $ 0.00 655 $ 655 ? ? ? ? ? ? 0.00 0 $ $ 805 805 2 ? ? 2 2 ? 0 0.00
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EXERCISE 1-11 Cost Behavior; Contribution Format Income Statement L01-4, L01-6 Harris Company manufactures and sells a single product. A partially completed schedule of the com- pany's total costs and costs per unit over the relevant range of 30,000 to 50,000 units is given below: Vist Jumsch Total costs: Variable cost. Fixed cost Total cost. Costs per unit: Variable cost. Fixed cost Total cost per unit. Units Produced and Sold 40,000 30,000 $180,000 300,000 $480,000 ? ? ? ? ? ? ? ? ? 50,000 ? ? ? ? ? ? Required: 1. Complete the above schedule of the company's total costs and costs per unit. 2. Assume that the company produces and sells 45,000 units during the year at a selling price of $16 per unit. Prepare a contribution format income statement for the year. 6 107
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Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 70,000 to 110,000 units is given below: ces Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 100,000 units during the year at a selling price of $8.80 per unit. Prepare a contribution format income statement for the year. Mc Graw Hill showers Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 70,000 Units…
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! Required information The Foundational 15 (Algo) [LO1-1, LO1₁-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 Foundational 1-13 (Algo) 13. If the selling price is $22.70 per unit, what is the contribution margin per unit? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Answer is complete but not entirely correct. $ 9.50 X Contribution margin per unit
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A% merica AS... rk i Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) $ 150.00 98.00 Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 51,000 units per quarter. The following additional information is available. 49.00 63.00 $360.00 70% 35,700 249,900 Direct materials (1,377,000 pounds @ $5.00 per pound)…