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 costs and costs per unit over the relevant range

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 58,000 to 98,000 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 88,000 units during the year at a selling price of $9.31 per unit. Help is needed developing a contribution format income statement for the year.

. 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

58,000 78,000 98,000

Total costs:

Variable cost $162,400

Fixed cost 430,000 430,000 430,000

Total costs $592,400

Cost per unit:

Variable cost

Fixed cost

Total cost per unit $0.00 $0.00 $0.00

Assume that the company produces and sells 88,000 units during the year at a selling price of $9.31 per unit. a Help is needed developing 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

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

Recommended Textbook for

College Physics

Authors: Jerry D. Wilson, Anthony J. Buffa, Bo Lou

7th edition

9780321571113, 321601831, 978-0321601834

Students also viewed these Accounting questions