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 $$560$ each. Calculate the contribution margin per canoe and the contribution margin ratio.

This year Sandy Bank expects to sell $820$ canoes for $$560$ 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 $$560$ each.

Suppose Sandy Bank wants to earn $$78,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $$560$ each.

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

Required $1$

Required $2$

Required $3$

Required $4$

Complete the following table.

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

$\backslash$table$[[\backslash$table$[[$Number of Canoes Produced and Sold$],[$Total costs$]],400,640,770],[,,,,,],[$Variable Costs,$$,60,400,,,,],[$Fixed Costs,,$134,800,,,,],[$Total Costs,$$,195,200,$$$,0,s,0],[$Cost per Unit,,,,,,$],[$Variable Cost per Unit,,,,,,$-],[$Fixed Cost per Unit,,,,,,pi$],[$Total Cost per Unit,s$,0\mathrm{.}00,$$$,0\mathrm{.}00,s,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 $$600$ each. Calculate the contribution margin per canoe and the contribution margin ratio.

This year Sandy Bank expects to sell $830$ canoes for $$600$ 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 $$600$ each.

Suppose Sandy Bank wants to earn $$83,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $$600$ each.

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

Required $1$

Required $2$

Required $3$

Required $4$

Complete the following table.

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

$\backslash$table$[[$Number of Canoes Produced and Sold,,$400,590,730],[\backslash$table$[[$Total costs$],[$Variable Costs$]]],[$Variable Costs,$$,57,200,,],[$Fixed Costs,,$134,000,,],[$Total Costs,$$,191,200,,],[\backslash$table$[[$Cost per Unit$],[$Variable Cost per Unit$]]],[\backslash$table$[[$Variable Cost per Unit$],[$Fixed Cost per Unit$]]],[\backslash$table$[[$Fixed Cost per Unit$],[$Total Cost per Unit$]]],[$Total Cost per Unit,,,,$]]$