Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] 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 70,000 to 110,000 units is given below: ces 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 100,000 units during the year at a selling price of $8.80 per unit. Prepare a contribution format income statement for the year. Mc Graw Hill showers 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 the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 70,000 Units Produced and Sold $ $ $ 90,000 Units Produced and Sold 266,000 360,000 626,000 $ 0.00 S 110,000 Units Produced and Sold 0 $ 0.00 $ < Required 1 0 0.00 E Required 2 > Prev 1 of 4 www Next >

Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] 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 70,000 to 110,000 units is given below: ces 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 100,000 units during the year at a selling price of $8.80 per unit. Prepare a contribution format income statement for the year. Mc Graw Hill showers 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 the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 70,000 Units Produced and Sold $ $ $ 90,000 Units Produced and Sold 266,000 360,000 626,000 $ 0.00 S 110,000 Units Produced and Sold 0 $ 0.00 $ < Required 1 0 0.00 E Required 2 > Prev 1 of 4 www Next >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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