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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 485 635 785 Total costs Variable costs $ 64,990 ? ? Fixed costs 148,300 ? ? Total costs $213,290 ? ? 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 $518 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 835 cances Complete the contribution

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 485 635 785 Total costs Variable costs $ 64,990 ? ? Fixed costs 148,300 ? ? Total costs $213,290 ? ? 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 $518 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 835 cances Complete the contribution

FINANCIAL ACCOUNTING
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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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 485 635 785 Total costs Variable costs Fixed costs Total costs $ 64,990 ? ? 148,300 ? ? $213,290 ? ? Cost per unit Fixed cost per unit Total cost per unit Variable cost per unit ? ? ? ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $518 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 835 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold Total Costs 485 635 785
Transcribed Image Text:Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 485 635 785 Total costs Variable costs Fixed costs Total costs $ 64,990 ? ? 148,300 ? ? $213,290 ? ? Cost per unit Fixed cost per unit Total cost per unit Variable cost per unit ? ? ? ? ? ? ? ? ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $518 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 835 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold Total Costs 485 635 785
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