Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 1 - 1 1 ( Algo ) Cost Behavior; Contribution Format Income Statement [ L 0 1 - 4 , LO 1 - 6

Exercise 1-11(Algo) Cost Behavior; Contribution Format Income Statement [L01-4, LO1-6]
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 61,000 to 101,000 units is given below:
Required:
Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below
Assume that the company produces and sells 91,000 units during the year at a selling price of $827 per unit Prepare a contribution format income statement for the year:
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit) variable cost and fixed cost to 2 decimal places.)
\table[[,Units Produced and Sold],[,61,000,81,000,101,000],[Total cost],[Variable cost,$,164,700,,,,],[Fixed cost,,370,000,,,,],[Total cost,$,534.700,$,0,$,0],[Cost per unit:],[Variable cost],[Fixed cost],[Total cost per unit,$,0.00,$,0.00,$,0.00]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 6 - Valuation Of Assets And Liabilities

Authors: Kate Mooney

1st Edition

0071719288, 9780071719285

More Books

Students also viewed these Accounting questions

Question

Why are stereotypes so resistant to change?

Answered: 1 week ago