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Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 780 canoes. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars 5. Suppose Sandy Bank wants to earn $70,000 profit this year Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your cost per Unit" answers to 2 decimal places.) 460 580 740 $ 67 160 151.800 218,960 $ $ 0 Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fbcod Cost per Unit Total Cost per Unit $ 0 S 0.00 S 0.00 $ 0.00 Heutel Required 2 > Required 1 Required 2 Redpred 3 Required 4 Required 5 This year Sandy Bank expects to sell 780 canoes. Prepare a contribution margin income statement for the company. (Round your intermediate calculations to 2 decimal places.) SANDY BANK, Inc. Contribution Margin Income Statement For the Current Year Contribution Margin Required 1 Required 2 Required 3 Rehuired 4 Required S Calculate Sandy Bank's break even point in units and in sales dollars. (Round tinal answers to the nearest whole number.) Canoes Break-Even Units Break-Even Sales Revenue Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Requirded's Suppose Sandy Bank wants to earn $70,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round Unit Contribution Margin to 2 decimal places. Round your answer to the next whole number Target Sales Units Canoes

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