Question

Harris Company manufactures and sells a single product. A partially completed schedule of the companys total costs and costs
Required 1 Required 2 Complete the schedule of the companys total costs and costs per unit as given in the relevant tab belo
Required 1 Required 2 Assume that the company produces and sells 99,000 units during the year at a selling price of $8.98 per
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Required 1 :
Variable cost per unit = Total variable cost for 69000 units / 69000 = 186300 / 69000 2.70
Fixed cost will not change with the change in units produced and sold
Units produced and Sold
69000 89000 109000
Total costs :
    Variable costs 186300 240300 294300
    Fixed costs 470000 470000 470000
Total costs 656300 710300 764300
Cost per unit :
    Variable cost ( Total variable cost / Units ) 2.70 2.70 2.70
    Fixed cost ( Total fixed costs / Units ) 6.81 5.28 4.31
Total cost per unit ( Total costs / Units ) 9.51 7.98 7.01
Required 2 :
Harris company
Contribution Format Income statement
Sales ( 99000 * 8.98 ) 889020
(-) Variable costs ( 99000 * 2.70 ) 267300
Contribution margin 621720
(-) Fixed costs 470000
Net income 151720
Add a comment
Know the answer?
Add Answer to:
Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 69,000 to 109,000 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 99,000 units during the year at a selling price of $8.21 per unit. Prepare a contribution format Income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 69,000 to 109,000 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 99,000 units during the year at a selling price of $7.79 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 59,000 to 99,000 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 89,000 units during the year at a selling price of $8.84 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 54,000 to 94,000 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 84,000 units during the year at a selling price of $9.40 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 51,000 to 91,000 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 81,000 units during the year at a selling price of $10.92 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs pe 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 $9.93 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 59,000 to 99,000 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 89.000 units during the year at a selling price of 58.78 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 70,000 to 110,000 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 100,000 units during the year at a selling price of $7.80 per unit. Prepare a contribution format income...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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...

  • Harris Company manufactures and sells a single product. A partially completed schedule of the company's total...

    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 $9.50 per unit. Prepare a contribution format income...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT