Exercise 1-11 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 56,000 to 96,000 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 86,000 units during the year at a selling price of $8.66 per unit. Prepare a contribution format income statement for the year. ipped Book Complete this question by entering your answers in the tabs below. Hint Required 2 Required 1 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.) Print Units Produced and Sold erences 76,000 56,000 96,000 Total costs: Variable costs 134,400 Fixed costs 400,000 534,400 $ Total costs Cost per unit: Variable cost Fixed cost $ 0.00 0.00 0.00 Total cost per unit Required 1 Required 2 %24 24 Exercise 1-11 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 56,000 to 96,000 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 86,000 units during the year at a selling price of $8.66 per unit. Prepare a contribution format income statement for the year. ed Complete this question by entering your answers in the tabs below. Required 1 Required Assume that the company produces and sells 86,000 units during the year at a selling price of $8.66 per unit. Prepare a contribution format income statement for the year. Harris Company ces Contribution Format Income Statement < Required 1 Required 2
Exercise 1-11 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 56,000 to 96,000 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 86,000 units during the year at a selling price of $8.66 per unit. Prepare a contribution format income statement for the year. ipped Book Complete this question by entering your answers in the tabs below. Hint Required 2 Required 1 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.) Print Units Produced and Sold erences 76,000 56,000 96,000 Total costs: Variable costs 134,400 Fixed costs 400,000 534,400 $ Total costs Cost per unit: Variable cost Fixed cost $ 0.00 0.00 0.00 Total cost per unit Required 1 Required 2 %24 24 Exercise 1-11 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 56,000 to 96,000 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 86,000 units during the year at a selling price of $8.66 per unit. Prepare a contribution format income statement for the year. ed Complete this question by entering your answers in the tabs below. Required 1 Required Assume that the company produces and sells 86,000 units during the year at a selling price of $8.66 per unit. Prepare a contribution format income statement for the year. Harris Company ces Contribution Format Income Statement < Required 1 Required 2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 2 Set 1
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education