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 55,000 to 95,000 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 85,000 units during the year at a selling price of $8.97 per unit. Prepare a contribution format income statement for the year.
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 55,000 to 95,000 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 85,000 units during the year at a selling price of $8.97 per unit. Prepare a contribution format income statement for the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 55,000 to 95,000 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 85,000 units during the
year at a selling price of $8.97 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 i
variable cost and fixed cost to 2 decimal places.)
Total cost
Variable cost
Fixed cost
Total cost
Cost per unit
55,000 Units
Produced and
Sold
$
$
75,000 Units
Produced and
Sold
115,500
440,000
555,500 $
95,000 Units
Produced and
Sold
0 $
0
Transcribed Image Text:Required 1 Required 2
Assume that the company produces and sells 85,000 units during the year at a s
contribution format income statement for the year.
Note: Round your intermediate calculations to 2 decimal places.
Harris Company
Contribution Format Income Statement
< Required 1
Required 2
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