Sandy Bank, Inc, makes one model of wooden cance. Partal iformatian far it follo
ID: 2537996 • Letter: S
Question
Sandy Bank, Inc, makes one model of wooden cance. Partal iformatian far it follows: Required: 1. Complete the fellowing table. (Round your "Cost per Unit answers to 2 decimal places.) r of Canoes Produced and Sold 460 580 Total costs S 68,510 148 530 217.120 Variatle Cusls Foued Cost Total Costs Coat par Un par Vanabla Cost per nit Fixed Cost per Unil Tolal Cus. per Uni Suppos Sandy Bank sels its cances for $550 ach. Calculaade the cotrbution margin per canoand the contribution margin rato. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentago" answer to 2 decimal places..e. 1234 should be entered as 12.34%-)) Unit Contribution Margin Camitinnn Margin Rati par Cance 3. This year Sandy Bank expects to sell 840 canoes. Prepare a contribution margin income statement for the compary. (Round your intermediate calculations to 2 decimal places.) Contribution Margin Income Statement Conributien Margin Incume from CperaliorrsExplanation / Answer
Number of Canoes produced and sold 460 580 780 total costs variable costs 68,540 86420 116220 fixed costs 148,580 148,580 148,580 total costs 217,120 235000 264800 cost per unit variable cost per unit 149.00 149.00 149.00 fixed cost per unit 323.00 256.17 190.49 total cost per unit 472.00 405.17 339.49 2) unit contribution margin (550-149) 401 per canoe contribution margin ratio (401/550) 72.91% 3) contribution margin income statement sales 462000 less variable expense (840*149) 125160 Contribution margin 336840 less fixed expense 148,580 Net income 188,260 4) Break even units 371 canoes break even sales revenue 204050 BEP(units) = fixed cost/contribution margin per unit 148,580/401 BEP(sales) = 371*550 1494 Canoes 204050 5) Target sale units (148580+74000)/149 1493.826
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