Cost Behavior; Contribution Format Income Statement
Parker Company manufactures and sells a single product. A partially completed schedule of the company’s tot al and per unit costs over a relevant range of 60,000 to 100,000 units produced and sold each year is given below:
| Units Produced and Sold | ||
| 60,000 | 80,000 | 100,000 |
Total costs: |
|
|
|
Variable costs………… | $150,000 | ? | ? |
Fixed costs…………… | 360,000 | ? | ? |
Total costs……………… | $510,000 | ? | ? |
Cost per unit: |
|
|
|
Variable cost………… | ? | ? | ? |
Fixed cost…………… | ? | ? | ? |
Total cost per unit……… | ? | ? | ? |
Required:
1. Complete the schedule of the company's total and unit costs.
2. Assume that the company produces and sells 90,000 units during the year at the selling price of $7.50 per unit. Prepare a contribution format income statement for the year.
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