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
Chapter1: Financial Statements And Business Decisions
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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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