Please do not give solution in image format thanku E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5]Riverside Inc. makes one model of wooden canoe. Partial information for it follows:Number ofCanoesProduced andSoldTotal costsVariable costsFixed costsTotal costsCost per unitVariable cost perunitFixed cost perunitTotal cost perunit450$$$$63,000187,200140.00250,200 $416.00650556.00$$91,000140.00187,200278,200 $288.00800$ 428.00$$112,000187,200299,200140.00234.00$ 374.00Riverside sells its canoes for $700 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 variationof Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. .1234 shouldbe entered as 12.34%) and all other answers to the nearest dollar amount.)

There are two types of income statements are prepared 1. Contribution Margin Income Statement2.…

E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Riverside Inc. 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 450 $ $ 63,000 $ 250,200 $ 187,200 140.00 416.00 556.00 650 $ 91,000 187,200 $ 278,200 $ 140.00 288.00 $ 428.00 800 $ $ 112,000 187,200 299,200 $ 140.00 234.00 $ 374.00 Riverside sells its canoes for $700 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. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)

E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Riverside Inc. 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 450 $ $ 63,000 $ 250,200 $ 187,200 140.00 416.00 556.00 650 $ 91,000 187,200 $ 278,200 $ 140.00 288.00 $ 428.00 800 $ $ 112,000 187,200 299,200 $ 140.00 234.00 $ 374.00 Riverside sells its canoes for $700 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. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)

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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