E$6-5($Static$)$ 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 $820$ 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 $$75,000$ profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $$550$ each.

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

Required $1$

Required $3$

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Required $5$

Complete the following table.

Note: Round your answers to $2$ decimal places.

$\backslash$table$[[$Number of Canoes Produced and Sold,$400,600,750],[$Total Costs,,,$],[$Variable Costs,$$,67,500\mathrm{.}00,,],[$Fixed Costs,$$,150,000\mathrm{.}00,,],[$Total Costs,$$,217,500\mathrm{.}00,,],[$Cost per Unit,,,$],[$Variable Cost per Unit,,,$],[$Fixed Cost per Unit,,,$],[$Total Cost per Unit,,,$]]$

Required $1$

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