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  3. riverside inc. makes one model of wooden canoe. pa

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: ...

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Accounting

Riverside Inc. makes one model of wooden canoe. Partial information for it follows:

Number of Canoes Produced and Sold 500 700 850
Total costs
Variable costs $ 87,500 $ 122,500 $ 148,750
Fixed costs 178,500 178,500 178,500
Total costs $ 266,000 $ 301,000 $ 327,250
Cost per unit
Variable cost per unit $ 175.00 $ 175.00 $ 175.00
Fixed cost per unit 357.00 255.00 210.00
Total cost per unit $ 532.00 $ 430.00 $ 385.00

Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes.

Required:

Complete the Riversides contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riversides original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)

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