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E$6-5($Algo$)$ Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break$-$Even Point, Target Profit $[$LO $6-1,6-2]$

Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.

Required:

Complete the following table.

Suppose Sandy Bank sells its canoes for $$550$ each. Calculate the contribution margin per canoe and the contribution margin ratio.

This year Sandy Bank expects to sell $830$ canoes for $$550$ each. Prepare a contribution margin income statement for the company.

Calculate Sandy Bank's break$-$even point in units and in sales dollars. Sandy Bank sells its canoes for $$550$ each.

Suppose Sandy Bank wants to earn $$70,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $$550$ each.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $3$

Required $4$

Required $5$

Complete the following table.

Note: Round your "Cost per Unit" answers to $2$ decimal places.

$\backslash$table$[[$Number of Canoes Produced and Sold,,$80,,620,,720],[$Total costs$],[$Variable Costs,$$,68,160,,,,],[$Fixed Costs,,$161,760,,,,],[$Total Costs,$$,229,920,$$$,0,$$$,0],[$Cost per Unit$],[$Variable Cost per Unit$],[$Fixed Cost per Unit$],[$Total Cost per Unit,$$,0\mathrm{.}00,$$$,0\mathrm{.}00,$$$,0\mathrm{.}00]]$

E$6-5($Algo$)$ Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break$-$Even Point, Target Profit $[$LO $6-1,6-2]$

Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.

Required:

Complete the following table.

Suppose Sandy Bank sells its canoes for $$550$ each. Calculate the contribution margin per canoe and the contribution margin ratio.

This year Sandy Bank expects to sell $830$ canoes for $$550$ each. Prepare a contribution margin income statement for the company.

Calculate Sandy Bank's break$-$even point in units and in sales dollars. Sandy Bank sells its canoes for $$550$ each.

Suppose Sandy Bank wants to earn $$70,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $$550$ each.

Complete this question by entering your answers in the tabs below.

Required $2$

Required $3$

Required $4$

Required $5$

Suppose Sandy Bank sells its canoes for $$550$ each. Calculate the contribution margin per canoe and the contribution marg ratio.

Note: Round your intermediate calculations and Unit Contribution Margin answer to two decimal places. Round your "percentage" answer to $2$ decimal places. $($i$.$e$.0\mathrm{.}1234$ should be entered as $12\mathrm{.}34\%.)$

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$\backslash$table$[[$Unit Contribution Margin,per canoe$],[$Contribution Margin Ratio,$\%$

Required $1$

Required $4$

Required $5$

Suppose Sandy Bank wants to earn $$70,000$ profit this year. Calculate the number of canoes that must be sold to achieve $t$ target. Sandy Bank sells its canoes for $$550$ each.

Note: Round Unit Contribution Margin to $2$ decimal places. Round your answer to the nearest whole number.