Variable cost per unit Fixed cost per unit Total cost per unit ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin rati 4. Next year Riverside expects to sell 805 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 455 605 755 Total Costs Variable Costs 2$ 65,065 Fixed Costs 149,700 Total Costs 214,765 $ 2$ Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 0.00 $ 0.00 2$ 0.00 < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) Unit Contribution Margin per canoe Contribution Margin Ratio < Required 1 Required 4 > Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Next year Riverside expects to sell 805 canoes. Complete the contribution margin income statement for the company. (Round your Contribution margin to 2 decimal places.) RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Contribution Margin Net Operating Income
Variable cost per unit Fixed cost per unit Total cost per unit ? Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin rati 4. Next year Riverside expects to sell 805 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 455 605 755 Total Costs Variable Costs 2$ 65,065 Fixed Costs 149,700 Total Costs 214,765 $ 2$ Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 0.00 $ 0.00 2$ 0.00 < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) Unit Contribution Margin per canoe Contribution Margin Ratio < Required 1 Required 4 > Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Next year Riverside expects to sell 805 canoes. Complete the contribution margin income statement for the company. (Round your Contribution margin to 2 decimal places.) RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Contribution Margin Net Operating Income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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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
455
605
755
Total costs
Variable costs
$ 65,065
149,700
$214,765
?
Fixed costs
Total costs
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 $505 each. Calculate the contribution margin per canoe and the contribution margin rati
4. Next year Riverside expects to sell 805 canoes. Complete the contribution margin income statement for the company.
Complete this question by entering your answers in the tabs below.
Required 1
Required 3
Required 4
Complete the table. (Round your cost per unit answers to 2 decimal places.)
Number of Canoes Produced and Sold
455
605
755
Total Costs
Variable Costs
2$
65,065
Fixed Costs
149,700
Total Costs
$
214,765
$
$
Cost per Unit
Variable Cost per Unit
Fixed Cost per Unit
Total Cost per Unit
$
0.00
$
0.00
$
0.00
< Required 1
Required 3 >
Complete this question by entering your answers in the tabs below.
Required 1
Required 3
Required 4
Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin
ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole
percent.)
Unit Contribution Margin
per canoe
Contribution Margin Ratio
%
< Required 1
Required 4 >
Complete this question by entering your answers in the tabs below.
Required 1
Required 3
Required 4
Next year Riverside expects to sell 805 canoes. Complete the contribution margin income statement for the company. (Round
your Contribution margin to 2 decimal places.)
RIVERSIDE INC.
Contribution Margin Income Statement
For the Next Year
Contribution Margin
Net Operating Income
< Required 3
Required 4 >
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