5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. Number of Canoes Produced and Sold 545 695 $ 81,750 148,400 $230,150 ? 7 2 845 3. Suppose Riverside sells its canoes for $508 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 895 canoes. Complete the contribution margin income statement for the company. Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $508 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 895 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) 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 545 695 $ 81,750 148,400 $ 230,150 $ 0 $ 845 $ 0.00 $ 0.00 $ 0.00 Required 1 Required 3> Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $508 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 895 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Suppose Riverside sells its canoes for $508 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest whole percent.) Unit Contribution Margin Contribution Margin Ratio per canoe Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $508 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 895 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Next year Riverside expects to sell 895 canoes. Complete the contribution margin income statement for the company. (Round your Contribution margin to 2 decimal places.) RIVERSIDE INC. Contribution Margin Income Statement For the Next Year Contribution Margin Net Operating Income