Question: E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Riverside Inc. makes one model of wooden canoe. Partial information

E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 450 650 900 Total costs Variable costs $ 69,750 $ 100,750 $ 139,500 Fixed costs 234,000 234,000 234,000 Total costs $ 303,750 $ 334,750 $ 373,500 Cost per unit Variable cost per unit $ 155.00 $ 155.00 $ 155.00 Fixed cost per unit 520.00 360.00 260.00 Total cost per unit $ 675.00 $ 515.00 $ 415.00 Riverside sells its canoes for $750 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riversides contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riversides original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.)

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