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Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit. Unit contribution margin Contribution margin ratio Contribution margin 450 Net operating income $ 67,500 374,400 $ 441,900 Scenario 1 Raises Sales Price to $1200 per Canoe $ 150.00 832.00 $ 982.00 650 $ 97,500 374,400 $ 471,900 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. $ 150.00 576.00 $ 726.00 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34 %) and all other answers to the nearest dollar amount. Contribution Margin Income Statement 800 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent $ 120,000 374,400 $ 494,400 $ 150.00 468.00 $ 615.00 Scenario 3 Decrease Fixed Cost by 20 Percent

Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit. Unit contribution margin Contribution margin ratio Contribution margin 450 Net operating income $ 67,500 374,400 $ 441,900 Scenario 1 Raises Sales Price to $1200 per Canoe $ 150.00 832.00 $ 982.00 650 $ 97,500 374,400 $ 471,900 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. $ 150.00 576.00 $ 726.00 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34 %) and all other answers to the nearest dollar amount. Contribution Margin Income Statement 800 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent $ 120,000 374,400 $ 494,400 $ 150.00 468.00 $ 615.00 Scenario 3 Decrease Fixed Cost by 20 Percent

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit. Unit contribution margin Contribution margin ratio Contribution margin 450 Net operating income $ 67,500 374,400 $ 441,900 Scenario 1 Raises Sales Price to $1200 per Canoe $ 150.00 832.00 $ 982.00 650 $ 97,500 374,400 $ 471,900 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. $ 150.00 576.00 $ 726.00 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34 %) and all other answers to the nearest dollar amount. Contribution Margin Income Statement 800 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent $ 120,000 374,400 $ 494,400 $ 150.00 468.00 $ 615.00 Scenario 3 Decrease Fixed Cost by 20 Percent
Transcribed Image Text:Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit. Unit contribution margin Contribution margin ratio Contribution margin 450 Net operating income $ 67,500 374,400 $ 441,900 Scenario 1 Raises Sales Price to $1200 per Canoe $ 150.00 832.00 $ 982.00 650 $ 97,500 374,400 $ 471,900 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. $ 150.00 576.00 $ 726.00 Riverside sells its canoes for $1,100 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34 %) and all other answers to the nearest dollar amount. Contribution Margin Income Statement 800 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent $ 120,000 374,400 $ 494,400 $ 150.00 468.00 $ 615.00 Scenario 3 Decrease Fixed Cost by 20 Percent
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