Harris Company manufactures and sells a single product. A partially completed sche unit over the relevant range of 52,000 to 92,000 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 82,000 units during the year at a selling price of $9.56 per unit. Prepåre a contribution format income statement for the year.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 52,000 to 92,000 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 82,000 units during the year at a selling price of $9.56 per unit. Prepåre a
contribution format income statement for the year.
Transcribed Image Text: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 52,000 to 92,000 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 82,000 units during the year at a selling price of $9.56 per unit. Prepåre a contribution format income statement for the year.
Units Produced and Sold
52,000
72,000
92,000
Total costs:
Variable cost
%24
156,000
Fixed cost
400,000
400,000
400,000
Total costs
$4
556,000
400,000
%$4
400,000
Cost per unit:
Variable cost
Fixed cost
Total cost per unit
0.00
24
0.00
0.00
%24
%24
%24
%24
Transcribed Image Text:Units Produced and Sold 52,000 72,000 92,000 Total costs: Variable cost %24 156,000 Fixed cost 400,000 400,000 400,000 Total costs $4 556,000 400,000 %$4 400,000 Cost per unit: Variable cost Fixed cost Total cost per unit 0.00 24 0.00 0.00 %24 %24 %24 %24
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