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 $8.90 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 in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 55,000 Units Produced and Sold $ $ $ 75,000 Units Produced and Sold 192,500 330,000 522,500 $ 0.00 $ 95,000 Units Produced and Sold 0 $ 0.00 $ 0 0.00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
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 $8.90 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
Assume that the company produces and sells 85,000 units during the year at a selling price of $8.90 per unit. Prepare a
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 >
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 $8.90 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 Assume that the company produces and sells 85,000 units during the year at a selling price of $8.90 per unit. Prepare a 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 >
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 $8.90 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 in the relevant tab below. (Round the per unit
variable cost and fixed cost to 2 decimal places.)
Total cost:
Variable cost
Fixed cost
Total cost
Cost per unit:
Variable cost
Fixed cost
Total cost per unit
55,000 Units
Produced and
Sold
$
$
$
75,000 Units
Produced and
Sold
192,500
330,000
522,500 $
0.00 $
95,000 Units
Produced and
Sold
0 $
0.00
▶
$
0
0.00
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 $8.90 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 in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 55,000 Units Produced and Sold $ $ $ 75,000 Units Produced and Sold 192,500 330,000 522,500 $ 0.00 $ 95,000 Units Produced and Sold 0 $ 0.00 ▶ $ 0 0.00
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Costing Systems
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
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