Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes 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 $520 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 810 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 $71,000 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 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 610 Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit Required 4 $ $ GA Required 5 63,000 141,540 204,540 $ 0.00 $ 0 S 0.00 $ 770 0 0.00 Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank sells its canoes for $520 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. (i.e. .1234 should be entered as 12.34%.)) Unit Contribution Margin Contribution Margin Ratio per Canoe % Required 1 Required 2 Required 3 Required 4 This year Sandy Bank expects to sell 810 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 Required 5 Income from Operations Required 1 Required 2 Required 3 Required 4 Required 5 Calculate Sandy Bank's break-even point in units and in sales dollars. (Round final answers to the nearest whole number.) Break-Even Units Break-Even Sales Revenue Canoes Required 1 Required 2 Required 3 Required 4 Required 5 Suppose Sandy Bank wants to earn $71,000 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 Canoes
Expert Answer:
Answer rating: 100% (QA)
Please find below the detailed solution 1 Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total costs Cost per unit Variable Cost per unit Fixed Cost per unit Total cost ... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Posted Date:
Students also viewed these accounting questions
-
Prepare a comparative common-size income statement for Sensible Music Co., using the 2010 and 2009 data of Exercise and rounding to four decimalplaces. Sensible Music Co. Comparative Income...
-
Prepare a comparative common-size income statement for Fashion Music Co. Using the 2010 and 2009 data of Exercise and rounding to four decimalplaces. Fashion Music Co. Comparative Income Statements...
-
Prepare a Pro Forma Income Statement Net Sales = 2,938 COGS = 1,598 SG&A = 475 Depreciation = 45 Interest Exp = 32 Tax = 15%. Net Sales Cost Of Goods Sold Gross Profit Selling & Admin Exp...
-
Sketch a graph to illustrate your idea of each of the following relationships. Be sure to label each axis appropriately. For each relationship, explain under what circumstances, if any, the curve...
-
Ersheys Chocolates produces milk chocolate candy bars. The company currently uses a static budget process. The companys controller prepared the following budget for Octobers production: Estimated...
-
The elevation change available at the Grand Coulee Dam is 330 ft. What is the maximum possible power per unit mass flow rate that a hydro turbine can produce at this site? What mass flow rate of...
-
What is belt drive ? Describe briefly types of belts.
-
What qualifications should the systems analysis team be looking for when hiring their new ecommerce development team member? Is it more important to know specific languages or to have an aptitude for...
-
For sgupta20: 700 words, Original Work, References Included, Plagerism free. In text citation included. Write a paper in which you examine the field of abnormal psychology. Address the following...
-
Conduct a Pareto analysis for the number of minutes that flights are late in the accompanying data. Interpret the results. E Click the icon to view the Atlanta Airline Data. Conduct a Pareto analysis...
-
If you were the HR staffing manager for an organization, what guidelines might you recommend regarding oral and written communication with job applicants by members of the organization?
-
Simmons Kitchens sells small electric knives for \(\$ 4\) each. Variable costs are \(\$ 2.40\) per unit, and fixed costs total \(\$ 60000\) per year. Required: a Write out Simmons' profit equation in...
-
Refer to 2.38. What if your aunt instead gave you $ 100000 and you were interested in investing it in Sweet Temptations? Required: Would this change your answers to 2.38? Why or why not? Data from in...
-
Suppose your wealthy aunt gave you and your cousins \(\$ 10000\) each. Assume for a moment that you are not associated with Sweet Temptations and that you are considering loaning the \(\$ 10000\) to...
-
The Huron Company keeps a petty cash fund of \(\$ 80\). On 30 June the fund contained cash of \(\$ 36.87\) and these petty cash receipts: Required: a If the business' fiscal year ends 30 June should...
-
The Cardiff Company sells a single product for \(\$ 40\) per unit. Its total fixed cost amounts to \(\$ 360000\) per year, and its variable cost per unit is \(\$ 34\). Required: a Compute the...
-
A system with two dampers, with damping constant c and c2, arranged in parallel as shown in figure below. The rigid bar to which the two dampers are connected remains horizontal when the force F is...
-
Whats the difference between an ordinary annuity and an annuity due? What type of annuity is shown below? How would you change the time line to show the other type of annuity?
-
Suppose a company chooses not to develop budgets. Describe three potential negative consequences of this decision.
-
Medlock Company has two divisions, Wheel and Chassis. The Wheel Dvision manufactures a wheel assembly that the Chassis Division uses. The variable cost to produce this assembly is $4.00 per unit;...
-
What are the two variable overhead variances? What factors can affect each variance?
-
Describe which characteristics of HR metrics and workforce analytics are likely to result in greater return on investment and organizational impact.
-
Why are information security and privacy important considerations in the design, development, and maintenance of an HRIS?
-
List and discuss the major information security and privacy threats to organizations.
Study smarter with the SolutionInn App