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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 63,000 to 103,000 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 the company produces and sells 93,000 units during the year at a selling price of $7.84 per unit. Prepare a contribution format income statement for the year. Answer is complete but not entirely correct. 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. Note: Round the per unit variable cost and fixed cost to 2 decimal places. Units Produced and Sold 63,000 83,000 103,000 Total cost Variable cost $ 157,500 207,500 257,500 Fixed cost 360,000 360,000 360,000 Total cost $ 517.500 $ 567,500 $ 617,500 Cost per unit Variable cost Fixed cost 2.50 5.71 2.50 2.500 4.34 3.50 Total cost per unit $ 8.21 $ 6.84 $ 6.00 Complete this question by entering your answers in the tabbelow. Required 1 Required 2 Assume the company produces and sells 93,000 units during the year at a selling price of $7.84 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 Sales 99 × Variable expenses 232,500 Contribution margin 99 × Fixed expense 360,000 Net operating income 99 ✪

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 63,000 to 103,000 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 the company produces and sells 93,000 units during the year at a selling price of $7.84 per unit. Prepare a contribution format income statement for the year. Answer is complete but not entirely correct. 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. Note: Round the per unit variable cost and fixed cost to 2 decimal places. Units Produced and Sold 63,000 83,000 103,000 Total cost Variable cost $ 157,500 207,500 257,500 Fixed cost 360,000 360,000 360,000 Total cost $ 517.500 $ 567,500 $ 617,500 Cost per unit Variable cost Fixed cost 2.50 5.71 2.50 2.500 4.34 3.50 Total cost per unit $ 8.21 $ 6.84 $ 6.00 Complete this question by entering your answers in the tabbelow. Required 1 Required 2 Assume the company produces and sells 93,000 units during the year at a selling price of $7.84 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 Sales 99 × Variable expenses 232,500 Contribution margin 99 × Fixed expense 360,000 Net operating income 99 ✪

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 63,000 to 103,000 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 the company produces and sells 93,000 units during the year at a selling price of $7.84 per unit. Prepare a contribution format income statement for the year. Answer is complete but not entirely correct. 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. Note: Round the per unit variable cost and fixed cost to 2 decimal places. Units Produced and Sold 63,000 83,000 103,000 Total cost Variable cost $ 157,500 207,500 257,500 Fixed cost 360,000 360,000 360,000 Total cost $ 517.500 $ 567,500 $ 617,500 Cost per unit Variable cost Fixed cost 2.50 5.71 2.50 2.500 4.34 3.50 Total cost per unit $ 8.21 $ 6.84 $ 6.00 <Required 1 Required 2 > Complete this question by entering your answers in the tabbelow. Required 1 Required 2 Assume the company produces and sells 93,000 units during the year at a selling price of $7.84 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 Sales 99 × Variable expenses 232,500 Contribution margin 99 × Fixed expense 360,000 Net operating income 99 ✪
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 63,000 to 103,000 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 the company produces and sells 93,000 units during the year at a selling price of $7.84 per unit. Prepare a contribution format income statement for the year. Answer is complete but not entirely correct. 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. Note: Round the per unit variable cost and fixed cost to 2 decimal places. Units Produced and Sold 63,000 83,000 103,000 Total cost Variable cost $ 157,500 207,500 257,500 Fixed cost 360,000 360,000 360,000 Total cost $ 517.500 $ 567,500 $ 617,500 Cost per unit Variable cost Fixed cost 2.50 5.71 2.50 2.500 4.34 3.50 Total cost per unit $ 8.21 $ 6.84 $ 6.00 <Required 1 Required 2 > Complete this question by entering your answers in the tabbelow. Required 1 Required 2 Assume the company produces and sells 93,000 units during the year at a selling price of $7.84 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 Sales 99 × Variable expenses 232,500 Contribution margin 99 × Fixed expense 360,000 Net operating income 99 ✪
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