Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Is my answer for number 1 correct and then finish the number 2 Harris Company manufactures and sells a single product. A partially completed schedule
Is my answer for number 1 correct and then finish the number 2
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 68.000 to 108.000 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 98.000 units during the year at a selling price of $9.39 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 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round th variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 68,000 88,000 108,000 Total costs: Variable cost $ 238,000 308,000 378,000 Fixed cost 430,000 430,000 430,000 Total costs 688,000 $ 738,000 $ 808,000 Cost per unit: Variable cost 3.50 3.50 3.50 Fixed cost 8.32 4.89 3.98 Total cost per unit $ 9.82 $ 8.39 $ 7.48 (Required 1 Required 2 > Required 1 Required 2 Assume that the company produces and sells 98,000 units during the year at a selling price of contribution format income statement for the year. Harris Company Contribution Format Income Statement Sales $ 920,220 Variable expenses 343,000 Contribution margin Fored expenseStep 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