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c o C | i Secure : https://newcon s For quick access, place your bookmarks here on the bookmarks bar. import bookmarks now... ow/connect html Chapter 1 Homework Assignment 7 Exercise 1-11 Cost Behavior; Contribution Format Income Statement (L014, Lol 15 points Harris Compeny 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 60,000 to 100,000 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 90,000 units during the year at a selling price of $8.48 per unit. Prepare a contribution format income statement for the yeer PHint 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 a variable cost and fixed cost to 2 decimal places.) s given in the relevant tab below. (Round the per unit Units Produced and Sold 60,000 80,000100,000 Total costs variable sts 156,000 390,000 546,000 S Fxed costs Total costs Cost per unit Variable cost Fixed cost Prev 7 of 10 Next 43 18

Explanation / Answer

1.

The total fixed costs will remain the same over the range of 60,000 to 100,000 units. The total variable costs will vary in proportion to number of units.

2.

Units produced and sold 60000 80000 100000 Total costs:    Variable costs 156000 208000 260000    Fixed costs 390000 390000 390000 Total cost 546000 598000 650000 Cost per unit:    Variable costs 2.60 2.60 2.60    Fixed costs 6.50 4.88 3.90 Total cost per unit 9.10 7.48 6.50

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