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 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 $8.78 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 cost Fixed cost Total costs Cost per unit: Variable cost Fixed cost Total cost per unit $ $ $ Units Produced and Sold 60,000 80,000 234,000 310,000 544,000 $ 0.00 $ 310,000 310,000 $ 0.00 $ < Required 1 100,000 310.000 310,000 0.00 Required 2 >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

help me 

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 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 $8.78 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 cost
Fixed cost
Total costs
Cost per unit:
Variable cost
Fixed cost
Total cost per unit
$
$
$
Units Produced and Sold
60,000
80,000
234,000
310,000
544,000 $
0.00 $
310,000
310,000 $
0.00 $
< Required 1
100,000
310.000
310,000
0.00
Required 2 >
Transcribed Image Text: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 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 $8.78 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 cost Fixed cost Total costs Cost per unit: Variable cost Fixed cost Total cost per unit $ $ $ Units Produced and Sold 60,000 80,000 234,000 310,000 544,000 $ 0.00 $ 310,000 310,000 $ 0.00 $ < Required 1 100,000 310.000 310,000 0.00 Required 2 >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education