Question

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 58,000 to 98,000 units is given below. Required: 1. Complete the above schedule of the company's total costs and costs per unit. 2. Assume that the company produces and sells 88.000 units during the year at a selling price of $10.53 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the above schedule of the company's total costs and costs per unit. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 58,000 78,000 98.000 Total costs: Variable costs $ Fixed costs 203,000 470,000 673,000 Total costs Cost per unit: Variable cost Fixed cost Total cost per unit Route Required 2 >

Answer 1

Requirement 1 Units Produced and sold 58000 78000 98000 $ 203,000.00 $ 470,000.00 $ 673,000.00 $ 273,000.00 $ 470,000.00 $ 743,000.00 $ 343,000.00 $ 470,000.00 $ 813,000.00 Total Costs Variable Costs Fixed costs Total Costs Cost per unit Variable Costs Fixed costs Total cost per unit 3.50 8.10 11.60 $ $ $ 3.50 6.03 9.53 $ $ $ 3.50 4.80 8.30 $ Requirement 2 Harris Company Contribution format income statement Sales Variable Costs Contribution margin Fixed costs Net Operating income $ 926,640.00 $ 308,000.00 $ 618,640.00 $ 470,000.00 $ 148,640.00