FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Required:
1. Complete the following table.
2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin ratio.
3. This year Sandy Bank expects to sell 810 canoes for $530 each. Prepare a contribution margin income statement for the company.
4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each.
5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this
target. Sandy Bank sells its canoes for $530 each.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2 Required 3
Number of Canoes Produced and Sold
Total costs
Complete the following table.
Note: Round your "Cost per Unit" answers to 2 decimal places.
Variable Costs
Fixed Costs
Total Costs
Cost per Unit
Variable Cost per Unit
Fixed Cost per Unit
Required 4
Total Cost per Unit
$
$
410
Required 5
< Required 1
61,910
137,760
199,670
650
Required 2 >
750
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Transcribed Image Text:Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 canoes for $530 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $530 each. 5. Suppose Sandy Bank wants to earn $67,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $530 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Number of Canoes Produced and Sold Total costs Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Required 4 Total Cost per Unit $ $ 410 Required 5 < Required 1 61,910 137,760 199,670 650 Required 2 > 750
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