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 61,000 to 101,000 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 61,000 81,000 101,000 Total costs: Variable costs $170,800 Fixed costs 310,000 Total costs $480,800 $ Cost per unit Variable cost Fixed cost Total cost per unit 0.00$ 0.00$ 0.00 2. Assume that the company produces and sells 91,000 units during the year at a selling price of $7.63 per unit. Prepare a contribution format income statement for the year. Harris Company Contribution Format Income Statement

Explanation / Answer

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Units produced and sold 61,000 81,000 101,000 Total Costs: Variable costs $170,800 $2.80 x 81,000 = $226,800 $2.80 x 101,000 = $282,800 Fixed costs 310,000 310,000 310,000 Total costs $480,800 $536,800 592,800 Cost per unit:   Variable costs $170,800 / 61,000 = $2.80 $2.80 $2.80   Fixed costs 310,000 / 61,000 = 5.08 310,000 / 81,000 = 3.83 310,000 / 101,000 = 3.07 Total Cost per unit $7.88 $6.63 $5.87

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