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EXERCISE 1-11 Cost Behavior; Contribution Format Income Statement L01-4 L01-62 Harris Company manufactures and sells a single product. A partially completed schedule of the company's
EXERCISE 1-11 Cost Behavior; Contribution Format Income Statement L01-4 L01-62 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 30,000 to 50,000 units is given below: Units Produced and Sold 30,000 40,000 50,000 Total costs: Variable cost Fixed cost 180,000 300,000 ? $480,000? Total cost Costs per unit: Variable cost Fixed cost Total cost per unit Required: 1. Complete the above schedule of the company's total costs and costs per unit 2. Assume that the company produces and sells 45,000 units during the year at a selling price of $16 per unit. Prepare a Page 54 contribution format income statement for the year
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