Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs p unit over the relevant range of 62,000 to 102,000 units is given below: Required: . 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 92,000 units during the year at a selling price of $9.75 per unit. Prepare a contril format income statement for the year. Complete this question by entering your answers in the tabs below. 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.) Units Produced and Sold 82,000 Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Required 2 Fixed cost Total cost per unit $ $ $ 62,000 179,800 480,000 659,800 $ 0.00 $ 0 $ 0.00 $ i Harris Company manufactures and sells a single produc unit over the relevant range of 62,000 to 102,000 units Required: 1. Complete the schedule of the company's total costs a 2. Assume that the company produces and sells 92,000 format income statement for the year. Complete this question by entering your answers Required 1 Required 2 Assume that the company produces and sells 92,000 un contribution format income statement for the year. Note: Round your intermediate calculations to 2 decimal Harris Company Contribution Format Income Statement < Required 1
Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs p unit over the relevant range of 62,000 to 102,000 units is given below: Required: . 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 92,000 units during the year at a selling price of $9.75 per unit. Prepare a contril format income statement for the year. Complete this question by entering your answers in the tabs below. 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.) Units Produced and Sold 82,000 Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Required 2 Fixed cost Total cost per unit $ $ $ 62,000 179,800 480,000 659,800 $ 0.00 $ 0 $ 0.00 $ i Harris Company manufactures and sells a single produc unit over the relevant range of 62,000 to 102,000 units Required: 1. Complete the schedule of the company's total costs a 2. Assume that the company produces and sells 92,000 format income statement for the year. Complete this question by entering your answers Required 1 Required 2 Assume that the company produces and sells 92,000 un contribution format income statement for the year. Note: Round your intermediate calculations to 2 decimal Harris Company Contribution Format Income Statement < Required 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
Topic Video
Question
A1
Transcribed Image Text:1 i
Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs p
unit over the relevant range of 62,000 to 102,000 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 92,000 units during the year at a selling price of $9.75 per unit. Prepare a contril
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 in the relevant tab below. (Round the per unit
variable cost and fixed cost to 2 decimal places.)
Units Produced and Sold
82,000
Total cost:
Variable cost
Fixed cost
Total cost
Cost per unit:
Variable cost
Fixed cost
Total cost per unit
$
$
$
62,000
179,800
480,000
659,800 $
0.00
$
0 $
0.00 $
Required 1
102,000
Saved
0
0.00
Required 2 >
Ch1 i
Harris Company manufactures and sells a single product.
unit over the relevant range of 62,000 to 102,000 units is
Required:
1. Complete the schedule of the company's total costs and
2. Assume that the company produces and sells 92,000 L
format income statement for the year.
Complete this question by entering your answers in
Required 1
Required
Assume that the company produces and sells 92,000 units
contribution format income statement for the year.
Note: Round your intermediate calculations to 2 decimal pl
Harris Company
Contribution Format Income Statement
< Required 1
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
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