Question
Harris Company manufactures and sells a single product. A partially completed schedule of company's total and per unit costs over relevant range of 56,000 to
Harris Company manufactures and sells a single product. A partially completed schedule of company's total and per unit costs over relevant range of 56,000 to 96,000 units produced and sold eventually is given: Units Produced/Sold=56,000 Total Costs Variable Costs.....$162,400 Fixed Costs........$340,000 Total Costs..........$502,400 Cost per unit: Variable Cost.....? Fixed Cost.......? Total Cost per unit....? Units Produced/Sold=76,000 Total Costs Variable Costs.....? Fixed Costs........? Total Costs.........? Cost per unit: Variable Cost.....? Fixed Cost.......? Total Cost per unit....? Units Produced/Sold=96,000 Total Costs Variable Costs.....? Fixed Costs........? Total Costs..........? Cost per unit: Variable Cost.....? Fixed Cost.......? Total Cost per unit....? Required: 1. Complete schedule of company's total and unit costs above. 2. Assume company produces and sells 86,000 units during the year at a selling price of $8.37 per unit. Prepare contribution formal income statement for the year.
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