Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 1-11 Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] 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 [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unft over the relevant range of 50,000 to 90.000 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 80,000 units during the year at a selling price of $8.77 per untt. 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.) Units Produced and Sold 50,000 70,000 90.000 Total costs: Variable costs Fixed costs $ 110,000 390,000 500.000 $ $ 0 $ 0 Total costs Cost per unit Variable cost Fixed cost Total cost per unit 5 0.00 $ 0.00 $ 0.00 Required 2 > Exercise 1-11 Cost Behavior; Contribution Format Income Statement [LO1-4, 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 50,000 to 90,000 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 80.000 units during the year at a selling price of $8.77 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 Assume that the company produces and sells 80,000 units during the year at a selling price of $8.77 per unit. Prepare a contribution format income statement for the year. Harris Company Contribution Format Income Statement
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started