Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes...

 

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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 700 500 Fixed costs $ 85,000 238,000 Total costs $ 323,000 $ 119,000 238,000 $ 357,000 Cost per unit Variable cost per unit Fixed cost per unit $ 170.00 476.00 $ 170.00 340.00 $ 646.00 $ 510.00 Total cost per unit 850 $ 144,500 238,000 $ 382,500 $ 170.00 280.00 $ 450.00 Riverside sells its canoes for $720 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. Scenario 1 Raises Sales Price to $820 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit contribution margin Contribution margin ratio % Contribution Margin Income Statement % % Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs 700 500 Fixed costs $ 85,000 238,000 Total costs $ 323,000 $ 119,000 238,000 $ 357,000 Cost per unit Variable cost per unit Fixed cost per unit $ 170.00 476.00 $ 170.00 340.00 $ 646.00 $ 510.00 Total cost per unit 850 $ 144,500 238,000 $ 382,500 $ 170.00 280.00 $ 450.00 Riverside sells its canoes for $720 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. Scenario 1 Raises Sales Price to $820 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit contribution margin Contribution margin ratio % Contribution Margin Income Statement % %