Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harris Company manufactures and sells a single product. A partially completed schedule of the company's total and per unit costs over the relevant range of

Harris Company manufactures and sells a single product.

A partially completed schedule of the company's total and per unit costs over the relevant range of 57,000 to 97,000 units produced and sold annually is given. Complete the schedule of the company's total and unit costs below (Round the "total costs" to the nearest dollar amount and the "cost per unit" to 2 decimal places. Omit the "$" sign in your response) :

Units Produced and Sold
57,000 77,000 97,000
Total costs:
Variable costs $222,300 $ $
Fixed costs

310,000

Total costs $532,300 $ $
Cost per unit:

Variable cost $ $ $
Fixed cost

Total cost per unit

$

$

$

Requirement 2:

Assume that the company produces and sells 87,000 units during the year at a selling price of $9.0 per unit. Prepare a contribution format income statement for the year. (Input all amounts as positive values. Omit the "$" sign in your response.)

Income Statement For the Year Ended
$

$

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

Explain the relationship between consumption and savings.

Answered: 1 week ago

Question

Types of Interpersonal Relationships?

Answered: 1 week ago

Question

Self-Disclosure and Interpersonal Relationships?

Answered: 1 week ago