Harris Company manufactures and sells a single product. A partially completed sc

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 66,000 to 106,000 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.

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.)

2. Assume that the company produces and sells 96,000 units during the year at a selling price of $9.22 per unit. Prepare a contribution format income statement for the year.

  

Assume that the company produces and sells 96,000 units during the year at a selling price of $9.22 per unit. Prepare a contribution format income statement for the year.

Units Produced and Sold 66,000 86,000 106,000 Total costs: Variable costs $250,800 Fixed costs 380,000 Total costs $630,800 Cost per unit: Variable cost Fixed cost Total cost per unit

Explanation / Answer

Complete the schedule of the company’s total costs and costs per unit as given in the relevant tab below.

Contribution format income statement :

66000 86000 106000 Total cost Variable cost 250800 326800 402800 Fixed cost 380000 380000 380000 Total cost 630800 706800 782800 Cost per unit Variable cost 3.8 3.8 3.8 Fixed cost 5.76 4.42 3.58 Total cost per unit 9.56 8.22 7.38

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