Number oft Canoes Produceu Total costs Variable costs Fixed costs $115,500 $157,500 198,000 $313,500 $355,500 $387, 000 $189,000 198,000 198,000 Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 210.00 360.00 $ 210.00 264.00 $ 474.00 $ 430.00 $ 210.00 220.00 $ 570.00 Total cost per unit iverside sells its canoes for $650 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 varia f Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 1234 hould 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
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750
900
Number of Canoes Produced and Sold
Total costs
Variable costs
550
$115,500 $157,500 $189,000
198,000
$387,000
198,000
198,000
$313,500 $355,500
Fixed costs
Total costs
Cost per unit
Variable cost per unit
Fixed cost per unit
$ 210.00
360.00
$ 210.00
264.00
$ 210.00
220.00
$ 570.00 $ 474.00
$ 430.00
Total cost per unit
Riverside sells its canoes for $650 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.)
Scenario 2 Increase
Scenario 3
Scenario 1 Raises
Sales Price to $750
per Canoe
Sales Price and
Variable Cost per
Unit by 10 Percent
Decrease Fixed
Cost by 20 Percent
Unit Contribution Margin
Contribution Margin Ratio
Contribution Margin Income Statement
Contribution Margin
Net Operating Income
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Transcribed Image Text:Check myt 750 900 Number of Canoes Produced and Sold Total costs Variable costs 550 $115,500 $157,500 $189,000 198,000 $387,000 198,000 198,000 $313,500 $355,500 Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 210.00 360.00 $ 210.00 264.00 $ 210.00 220.00 $ 570.00 $ 474.00 $ 430.00 Total cost per unit Riverside sells its canoes for $650 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.) Scenario 2 Increase Scenario 3 Scenario 1 Raises Sales Price to $750 per Canoe Sales Price and Variable Cost per Unit by 10 Percent Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio Contribution Margin Income Statement Contribution Margin Net Operating Income < Prev 3 of 4 Next >
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