Question: I think I've got this problem all wrong. Please help. Riverside Inc. makes one model of wooden canoe. Partial information for It follows. Number of

I think I've got this problem all wrong. Please help.
I think I've got this problem all wrong. Please help. Riverside Inc.
makes one model of wooden canoe. Partial information for It follows. Number

Riverside Inc. makes one model of wooden canoe. Partial information for It follows. Number of Cannes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 400 600 $ 54,000 $ 81,000 60,000 60,000 $114,000 $ 141,000 $135.00 $135.00 150.00 100.00 $ 285.00 $ 235.00 750 $101,250 60,000 $161,250 $ 135.00 88.00 $ 215.00 Riverside sells its canoes for $370 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. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (1.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Required: Complete the Riverside's contribution margin income statement for each Independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (.e. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Unit Contribution Margin Contribution Margin Ratio Cost of Goods Sold Fixed Costs Sales Revenue Variable Costs Contribution Margin Foxed Costs Net Operating Income Scenario 1 Raises Sales Price to $470 per Cance $ 3 Contribution Margin Income S $ 335.00 71.20 % 3 470 60.000 470.000 (135,000) 335.000 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent $ (00.000) 275.000 $ 5 258.50 63,51 % Statement 407 60.000 407,000 (148.500) 250.500 (60.000) 198.500 Scenario 3 Decrease Fixed Cost by 20 Percent S $ $ 235,00 63.51% 370 48.000 370.000 (135.000) 235.000 (48.000) 187,000

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