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 companys total costs and costs per unit over the relevant range

Harris Company manufactures and sells a single product. A partially completed schedule of the companys total costs and costs per unit over the relevant range of 68,000 to 108,000 units is given below:

Required:

1. Complete the schedule of the companys total costs and costs per unit as given in the relevant tab below.

2. Assume that the company produces and sells 98,000 units during the year at a selling price of $8.84 per unit. Prepare a contribution format income statement for the year.

  • Required 1
  • Required 2

Complete the schedule of the companys 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
68,000 88,000 108,000
Total cost:
Variable cost $170,000
Fixed cost 470,000
Total cost $640,000 $0 $0
Cost per unit:
Variable cost
Fixed cost
Total cost per unit $ $0.00 $0.00

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

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

7th Edition

978-0-538-4527, 0-538-45274-9, 978-1133161646

More Books

Students also viewed these Accounting questions

Question

1. Explain how banks create money.

Answered: 1 week ago

Question

=+ d. What happens to Oceanias trade balance?

Answered: 1 week ago

Question

=+ e. What happens to Oceanias real exchange rate?

Answered: 1 week ago