Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 510 660 810 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 72,420 148,800 $221,220 ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $516 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 860 canoes. Complete the contribution margin income statement for the company.
Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 510 660 810 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 72,420 148,800 $221,220 ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $516 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 860 canoes. Complete the contribution margin income statement for the company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Complete questions 1,3 and 4
Transcribed Image Text:Complete the table. (Round your cost per unit answers to 2 decimal places.)
Number of Canoes Produced and Sold
510
660
810
Total Costs
Variable Costs
$
72,420
Fixed Costs
148,800
Total Costs
$
221,220 $
0 $
Cost per Unit
Variable Cost per Unit
Fixed Cost per Unit
Total Cost per Unit
$
0.00
$
0.00
$
0.00
%24
Transcribed Image Text:Riverside Inc. makes one model of wooden canoe. Partial information for it follows:
Number of Canoes Produced and Sold
510
660
810
Total costs
Variable costs
$ 72,420
Fixed costs
148,800
Total costs
$221,220
Cost per unit
Variable cost per unit
Fixed cost per unit
Total cost per unit
Required:
1. Complete the table.
3. Suppose Riverside sells its canoes for $516 each. Calculate the contribution margin per canoe and the contribution margin ratio.
4. Next year Riverside expects to sell 860 canoes. Complete the contribution margin income statement for the company.
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