Question

Exercise 1-11 Cost Behavior; Contribution Format Income Statement [L014, LOI-6] 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 52,000 to 92,000 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 82,000 units during the year at a selling price of $8.52 per unit. Pre contribution format income statement for the year. pare a Complete this question by entering your answers in the tabs below Required 1 Required 2 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 52,000 72,000 92,000 Total costs Variable costs Fixed costs 145600$340.000 340,000 485,600 257,600 340,000 541,600 597,600 201,600 Total costs Cost per unit: Variable cost Fixed cost Total cost per unit 2.80 6.54 9.34 S 2.80 4.72 7.52 S 2.80 3.70 6.50

Answer 1

Solution 2:

Contribution format income statement
Particulars	Per unit	Amount
Sales	$8.52	$6,98,640
Less: Variable Cost	$2.80	$2,29,600
Contribution	$5.72	$4,69,040
Less: Fixed Costs		$3,40,000
Net Income		$1,29,040