E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio: Identifying Break-Even Point, Target Profit (LO 6-1, 6-2] Sandy Bank, Inc. makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 770 canoes. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sondy Bank wants to earn $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 620 720 Total costs $ 61,320 Variable Costs Fixed Costs 138,180 199,500 $ $ Total Costs OS 0 Cost per Unit Variable Cost per Unit Required: 1. Complete the following table, 2. Suppose Sandy Bank sells its canoes for $550 each Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 770 canoes. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Suppose Sandy Bank sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. (Round your intermediate calculations and final answers to 2 decimal places. Round your "percentage" answer to 2 decimal places. (.e. 1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % + Required: 1. Complete the following table 2. Suppose Sandy Bank sells its canoes for $550 each Calculate the contribution margin por cance and the contribution margin ratio 3. This year Sandy Bank expects to sell 770 canoes. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars 5. Suppose Sanay Bank wants to earn $79,000 profit this year Calculate the number of canoes that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Required Required This year Sandy Bank expects to sell 770 canoes. Prepare a contribution margin income statement for the company. (Round your intermediate calculations to 2 decimal places SANDY BANK, Inc Contribution Margin Income Statement For the Current Year Contribution Margin Sandy Bank Inc, makes one model of wooden canoo Partial information is given below Required: 1. Complete the following table 2. Suppose Sandy Bank sells its canoes for $550 each Calculate the contribution margin per canoe and the contribution margin ratio 3. This year Sandy Bank expects to sell 770 canoes. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars 5. Suppose Sandy Bank wants to earn $79,000 profit this year Calculate the number of cances that must be sold to achieve this Target Complete this question by entering your answers in the tabs below. Required 1 Required Required 3 Required 4 Required Calculate Sondy Banks break-even point in units and in sales dollars. (Raund first answers to the nearest whole number) Canoes Break Even Units Break Event Sales Revenue (Required 3 Required 5 > Point, Target Profit [LO 6-1, 6-2) Sandy Bank Inc. makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table 2. Suppose Sandy Bank Sells its canoes for $550 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 770 canoes. Prepare a contribution margin income statement for the company 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $79,000 profit this year. Calculate the number of cances that must be sold to achieve this target Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $79,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. (Round Unit Contribution Margin to 2 decimal places. Round your answer to the next whole number.) Target Sales Units Carices (Required 4 Risuus