Do not use Ai Riverside Inc. makes one model of wooden canoe. Partial information for it follows:Number ofCanoes400Producedand SoldTotal costs600750Variable$50,000$75,000$93,750costsFixed costs90,00090,00090,000Total costs$140,000 $165,000 $183,750Cost per unitVariable cost$125.00$125.00$125.00per unitFixed cost225.00150.00120.00per unitTotal costper unit$350.00$275.00$245.00Riverside sells its canoes for $430 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 scenariois a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to twodecimal places (i.e..1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)

If every independent scenario is a variant of Riverside's original data, then the following…

Answered: Riverside Inc. makes one model of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8MC: What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials,...

See similar textbooks

Similar questions

What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
Sandy Bank, Incorporated, makes one model of wooden canoe. And, the 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 Sandy Bank sells its canoes for $375 each. 450 Required 1 Required 2 $ 69,750 $ 468,000 $ 537,750 Required 3 $ 155.00 1,040.00 $ 1,195.00 650 $ 100,750 $ 468,000 $ 568,750 $ 155.00 720.00 $ 875.00 Complete this question by entering your answers in the tabs below. 800 Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales 2. If Sandy Bank sells 1,500 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales pr $500) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $110,000 profit. $ 124,000 $ 468,000 $ 592,000 $ 155.00 585.00 $ 740.00 Suppose that Sandy Bank raises its selling…
Please refer to the two attachments and complete the boxes in the second attachment. Thank you
uestions | bartleby G How many units must be in... My Home CengageNOWv2| Online te.. eBook Show Me How A production department within a company received materials of $10,000 and conversion costs of $8,000 from the prior department. It added material of $36,500 and conversion costs of $70,750. The equivalent units are 25,000 for material and 22,500 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials Conversion $ + %24
Swifty's Manufacturing Company can make 100 units of a necessary component part with the following costs: Direct Materials Direct Labor Variable Overhead Fixed Overhead $117000 22000 49000 30000 If Swifty's Manufacturing Company purchases the component externally, $20000 of the fixed costs can be avoided. What is the maximum amount Swifty is willing to pay to purchase the 100 units? $218000 O $188000 $198000 $208000
Waterway Industries, Inc. can produce 100 units of a component part with the following costs: Direct Materials Direct Labor Variable Overhead Fixed Overhead $22000 6000 14000 15500 If Waterway Industries, Inc. can purchase the component part externally for $49000 and only $4000 of the fixed costs can be avoided. what is the correct make-or-buy decision? O Make and save $3000 O Buy and save $4500 O Make and save $4500 O Buy and save $7000
Please do not give solution in image format thanku
Swifty Corporation can produce 100 units of a necessary component part with the following costs: Direct Materials $24000 Direct Labor 13000 Variable Overhead 30000 Fixed Overhead 12000 If Swifty Corporation purchases the component externally, $3500 of the fixed costs can be avoided. Below what external price for the 100 units would Swifty choose to buy instead of make the units? $70500 $75500 $58500 $67000
S
Howell Corporaon produces an execuve jet for which it currently manufactures a fuel valve; the cost ofthe valve is indicated below:Cost per UnitVariable costsDirect material $900Direct labor 600Variable overhead 300Fixed costsDepreciaon of equipment 500Depreciaon of building 200Supervisory salaries 300The company has an offer from Duvall Valves to produce the part for $2,000 per unit and supply 1,000 valves(the number needed in the coming year). If the company accepts this offer and shuts down producon ofvalves, producon workers and supervisors will be reassigned to other areas. The equipment cannot be usedelsewhere in the company, and it has no market value. However, the space occupied by the producon of thevalve can be used by another producon group that is currently leasing space for $55,000 per year.What is the incremental savings of buying the valves? (The answer should be stated in a per‐unit format and is a positive number)
Please provide answer in text (Without image)
Please do not give solution in image format thanku

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS