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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 $500 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 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 $68,000 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.) Complete this question by entering your answers in the tabs below. 55 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 470 560 720 Total costs Variable Costs $ 71,440 Fixed Costs 157 450 228,890 Total Costs $ $ 0 $ 0 Cost per Unit Variable Cost per Unit Fixed Cost per Unit $ 0.00 $ 0.00 $ 0.00 Total Cost per Unit Required Required 2 > Earn $68,000 profit this year. Calculate the number of canoes that must be sold to achieve th 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 sells its canoes for $500 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%.)) $ 352.00 per Canoe Unit Contribution Margin Contribution Margin Ratio 70.40 % spose Sandy Bank sells its canoes for $500 each. Calculate the contribution margin per canoe and the contribu 3. This year Sandy Bank expects to sell 760 canoes. Prepare a contribution margin income statement for the compan 4. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of canoes that must be sold to target Complete this question by entering your answers in the tabs below. 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 numbe Break-Even Units Canoes Break-Even Sales Revenue for the company. point in units and in sales dollars. 5. Suppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of canoes that must be sold to achieve tt 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 $68,000 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