Riverside Inc. makes one model of wooden canoe. Partial information for it follo

Question

Riverside Inc. makes one model of wooden canoe. Partial information for it follows Number of Canoes Produced and Sold 460 610 760 Total costs Variable costs Fixed costs $ 60,720 148,900 $209,620 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 460 610 760 Total Costs 60,720 148,900 $209,620 Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit

Explanation / Answer

Schedule :

b) Unit contribution margin = 503-132 = 371 per unit

Contribution margin ratio = 371*100/503 = 74%

c) Contribution margin income statement

Number of canoes produced and sold 460 610 760 Total cost Variable cost 60720 80520 100320 Fixed cost 148900 148900 148900 Total cost 209620 229420 249220 Cost per unit Variable cost per unit 132 132 132 Fixed cost per unit 323.70 244.10 195.92 Total cost per unit 455.70 376.10 327.92

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