E$5-18($Algo$)$ Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement $[$LO $5-5]$

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

Number of Canoes Produced and Sold $550750900$

Total costs

Variable costs $ $107,250$ $ $146,250$ $ $175,500$

Fixed costs $247,500247,500247,500$

Total costs $ $354,750$ $ $393,750$ $ $423,000$

Cost per unit

Variable cost per unit $ $195\mathrm{.}00$ $ $195\mathrm{.}00$ $ $195\mathrm{.}00$

Fixed cost per unit $450\mathrm{.}00330\mathrm{.}00275\mathrm{.}00$

Total cost per unit $ $645\mathrm{.}00$ $ $525\mathrm{.}00$ $ $470\mathrm{.}00$

Riverside sells its canoes for $$750$ 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$.0\mathrm{.}1234$ should be entered as $12\mathrm{.}34\%)$ and all other answers to the nearest dollar amount.