FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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 that the company produces and sells 93,000 units during the year at a selling price of $9.14 per unit. Prepare a contribution format income statement for the year. 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. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total costs: Variable costs Fixed costs Total costs Cost per unit: Variable cost Fixed cost Total cost per unit 63,000 Units Produced and Sold $ $ $ 83,000 Units Produced and Sold 163,800 460,000 623,800 $ 0.00 $ 103,000 Units Produced and…arrow_forwardHarris 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 68,000 to 108,000 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 98,000 units during the year at a selling price of $9.34 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 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.) 68,000 Units Produced and Sold 88,000 Units Produced and Sold 108,000 Units Produced and Sold Total cost: Variable cost $204,000 Fixed cost 470,000 Total cost $674,000…arrow_forwardDriveTrain, Incorporated instituted a new process in October 2023. During October, 10,800 units were started in Department A. Of the units started, 8,200 were transferred to Department B, and 2,600 remained in Work-in-Process at October 31, 2023. The Work-in-Process at October 31, 2023, was 100% complete as to material costs and 50% complete as to conversion costs. Material costs of $29,160 and conversion costs of $38,000 were charged to Department A in October. What were the total costs transferred to Department B assuming Department A uses weighted-average process costing?arrow_forward
- Kramer Corp. began the current period with 4,030 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,500 in direct materials and $4,720 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,010 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,190 in direct labor costs, and $40,100 in manufacturing overhead costs during the period.arrow_forwardMemanarrow_forwardTech Enterprise makes a single product in two departments. The production data for Department B for August 2019 follows: Quantities: In process, August 1 (40% complete) 4,000 units Received from Department A 30,000 units Completed and transferred 25,000 units In process, August 31 (60% complete) 6,000 units Production costs: August 1 August 31 Transferred in P48,900 P267,300 Materials 11,400 202,500 Conversion cost 5,820 243,000 Materials are added at the start of the process, and losses normally occur during the early stage of the operation. Cost of goods manufactured using FIFO method.arrow_forward
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