# Question: Riverside Inc. Makes One Model Of Wooden Canoe. Partial Information For It Follows: Number Of Canoes Produced And Sold 510 660 810 \$ 72,420    Show transcribed image text

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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 510 660 810 \$ 72,420 148,800 \$221, 220 ? ? ? ? ? Total costs Variable costs 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 \$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. Complete the table. (Round your cost per unit answers to 2 decimal places.) 510 660 810 Number of Canoes Produced and Sold Total Costs Variable Costs \$ 72,420 \$ 93,720 \$ 115,020 Fixed Costs 148,800 148,800 148,800 \$ 221,220 \$ 242,520 \$ 263,820 Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit \$ 142.00 \$ 142.00 \$ 142.00 291.76 225.45 183.79 \$ \$ 433.76 \$ 367.45 \$ \$ 325.79 Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for \$516 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.). \$ 374 per canoe Unit Contribution Margin Contribution Margin Ratio 72 % Next year Riverside expects to sell 860 canoes. Complete the contribution margin income statement for the company. (Round Contribution margin to 2 decimal places.). your RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Sales Revenue \$ 417,960 x Variable Costs 115,020 Contribution Margin \$ 302,940 X Fixed Costs 11 X Net Operating Income