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

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Accounting

Riverside Inc. makes one model of wooden canoe. Partialinformation for it follows:
Number of Canoes Produced and Sold
530 680 830
Total costs
Variable costs $ 71,550 ? ?
Fixed costs 148,500 ? ?
Total costs $ 220,050 ? ?
Cost per unit
Variable cost per unit ? ? ?
Fixed cost per unit ? ? ?
Total cost per unit ? ? ?

Required:
1. Complete the table. (Round your cost per unitanswers to 2 decimal places.)

3. Suppose Riverside sells its canoes for $511each. Calculate the contribution margin per canoe and thecontribution margin ratio. (Round your contribution marginto the nearest whole dollar and your contribution margin ratio tothe nearest whole percent.)

4. Next year Riverside expects to sell 880 canoes.Complete the contribution margin income statement for thecompany.

Answer & Explanation Solved by verified expert

3.9 Ratings (690 Votes)

1 530 Working 680 830 Total costs Variable costs 71550 91800 135 X 680 units 112050 135 X 830 units Fixed costs 148500 148500 Remains fixed 148500 Total costs 220050 240300 91800148500 260550 112050148500 Cost per unit Variable cost per unit 135 See Answer

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Number of Canoes Produced and Sold
		530	680	830
Total costs
Variable costs	$	71,550	?	?
Fixed costs		148,500	?	?
Total costs	$	220,050	?	?
Cost per unit
Variable cost per unit		?	?	?
Fixed cost per unit		?	?	?
Total cost per unit		?	?	?