Required: 1. A partially completed schedule of the company\'s total and per unit

Question

Required: 1. A partially completed schedule of the company's total and per unit costs over the relevant range of 55,000 to 95,000 units produced and sold annually is given below: Complete the schedule of the company's total and unit costs. Round the variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 55,000 75,000 95 Total costs 170,500 310,000 S 480,500 Variable costs Fixed costs Total costs Cost per unit Variable cost Fixed cost Total cost per unit 2. Assume that the company produces and sells 85,000 units during the year at a selling price of $8.23 per unit. Prepare a contribution format income statement for the year. (Do not round intermediate calculations.) Harris Company Contribution Format Income Statement

Explanation / Answer

55000 75000 95000 Total costs: Variable costs 170500 232500 294500 Fixed costs 310000 310000 310000 Total costs 480500 542500 604500 Cost per unit: Variable cost 3.10 3.10 3.10 Fixed cost 5.64 4.13 3.26 Total Cost per unit 8.74 7.23 6.36 2 Contribution Format income statement Sales revenue 699550 =85000*8.23 Variable costs 263500 =85000*3.1 Contribution margin 436050 Fixed costs 310000 Net income 126050

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