Harris Company manufact A partially completed schedule of the company's total and per unit costs over the relevant range of 53,000 to 93,000 units produced and sold annually is given below: Complete the schedule of the company's total and unit costs. (Round the varlable cost and fixed cost to 2 decimal places.) Total Costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost Fixed Cost Total Unit per Cost 2 and sells a single Harris Contribution Format Units Sales Variable Expenses Contribution Margin Fixed Expense 53000 $153700 370000 $523700 ? ? ? Produced & Net Operating Income 73000 ? ? ? ? ? ? Company Assume that the company produces and sells 83,000 units during the year at a selling price of $8.97 per unit. Prepare a contribution format income statement for the year. ? ? ? Sold 93000 ? ? 2 ? ? Income Statement ? ? ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Harris Company manufactures and sells a single product.
1.
A partially completed schedule of the company's total and per unit costs over the
relevant range of 53,000 to 93,000 units produced and sold annually is given below:
Complete the schedule of the company's total and unit costs. (Round the varlable cost
and fixed cost to 2 decimal places.)
Total Costs
Variable Costs
Fixed Costs
Total Costs
Cost per Unit
Variable Cost
Fixed Cost
Total Unit per Cost
2
Harris
Contribution Format
Sales
Units
Variable Expenses
53000
$153700
370000
$523700
?
?
?
Produced &
Contribution Margin
Fixed Expense
Net Operating Income
73000
?
?
?
?
?
?
Company
Assume that the company produces and sells 83,000 units during the year at a
selling price of $8.97 per unit. Prepare a contribution format income statement
for the year.
?
?
?
Sold
?
93000
?
?
?
?
Income Statement
?
?
?
Transcribed Image Text:Harris Company manufactures and sells a single product. 1. A partially completed schedule of the company's total and per unit costs over the relevant range of 53,000 to 93,000 units produced and sold annually is given below: Complete the schedule of the company's total and unit costs. (Round the varlable cost and fixed cost to 2 decimal places.) Total Costs Variable Costs Fixed Costs Total Costs Cost per Unit Variable Cost Fixed Cost Total Unit per Cost 2 Harris Contribution Format Sales Units Variable Expenses 53000 $153700 370000 $523700 ? ? ? Produced & Contribution Margin Fixed Expense Net Operating Income 73000 ? ? ? ? ? ? Company Assume that the company produces and sells 83,000 units during the year at a selling price of $8.97 per unit. Prepare a contribution format income statement for the year. ? ? ? Sold ? 93000 ? ? ? ? Income Statement ? ? ?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 4 images

Blurred answer
Knowledge Booster
Cost classification
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education