Requirement 1
Units produced and sold |
|||
55000 |
75000 |
95000 |
|
Total costs: |
|||
Variable costs |
$ 1,32,000.00 |
$ 1,80,000.00 |
$ 2,28,000.00 |
Fixed costs |
$ 4,10,000.00 |
$ 4,10,000.00 |
$ 4,10,000.00 |
Total costs: |
$ 5,42,000.00 |
$ 5,90,000.00 |
$ 6,38,000.00 |
Cost per unit |
|||
Variable costs |
$ 2.40 |
$ 2.40 |
$ 2.40 |
Fixed costs |
$ 7.45 |
$ 5.47 |
$ 4.32 |
Total Cost per unit |
$ 9.85 |
$ 7.87 |
$ 6.72 |
Working
Units produced and sold |
|||
55000 |
75000 |
95000 |
|
Total costs: |
|||
Variable costs |
132000 |
=132000/55000*75000 |
=132000/55000*95000 |
Fixed costs |
410000 |
410000 |
410000 |
Cost per unit |
|||
Variable costs |
=132000/55000 |
=180000/75000 |
=228000/95000 |
Fixed costs |
=410000/55000 |
=410000/75000 |
=410000/95000 |
Total Cost per unit |
=2.4+7.45 |
=2.4+5.47 |
=2.4+4.32 |
Requirement 2
Contribution margin income statement |
|
Sales revenue |
$ 7,53,950.00 |
Less: Variable cost (2.40 x 85000) |
$ 2,04,000.00 |
Contribution margin |
$ 5,49,950.00 |
Fixed cost |
$ 4,10,000.00 |
Operating profit |
$ 1,39,950.00 |
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Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 55,000 to 95,000 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 85,000 units during the year at a selling price of $9.90 per unit. Prepare a contribution format income...
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