Question

Exercise 1-11 Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6) 5.5 points Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and cos unit over the relevant range of 62,000 to 102.000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 92.000 units during the year at a selling price of $9.00 per unit. Prepare a contribution format income statement for the year. eBook Ask Complete this question by entering your answers in the tabs below. Required 1 Required 2 References Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 62,000 $2,000 102,000 Total costs: Variable cost $ 254,490. 320,000 574 200 $ Fixed cost Total costs Cost per unit Variable cost Foxed cost Total cost per unit 0.00 Required 2 >

Answer 1

01. The flasn's company llenable Cost per unit is Iconable cost total carlable cost $25 4200 fer un't Onte Produced and 62000 Sold canlable cost per Unit Sold a $4.lt Units produced and sold Total Costs: 62000 82000 102000 carable Cost & 25 A200 $3362001 is 4 182001 Fixed Cost 3200000 [8320000 320000 Total Costs $57A200 & 65 6200 8738200) Cost per Uniti Konable cost [& A.1) 1841 1841 Fixed Cost 1&5.16) ($8.901 (83.141 Total cost per unit 189.26) 188 I Ts7.241 Mam's Company 02. Contribute Income Statement under contre contin from Sales (92000 x 89 for Unit) $82800 Dedut; lanable Expenses [92m x $4.1) $377200 Contribution margin & A50800 Dedent's fixed Expenses 8380000 Not operating Income -> $ 130800