FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6]
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 51,000 to 91,000 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 81,000 units during the year at a selling price of $11.62 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 cos
Variable cost
Fixed cost
Total cost
Cost per unit:
Variable cost
Fixed cost
Total cost per unit
51,000 Units
Produced and
Sold
$
$
$
71,000 Units
Produced and
Sold
204,000
470,000
674,000 $
0.00 $
91,000 Units
Produced and
Sold
0 $
0.00 $
0
0.00
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Transcribed Image Text:Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] 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 51,000 to 91,000 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 81,000 units during the year at a selling price of $11.62 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 cos Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 51,000 Units Produced and Sold $ $ $ 71,000 Units Produced and Sold 204,000 470,000 674,000 $ 0.00 $ 91,000 Units Produced and Sold 0 $ 0.00 $ 0 0.00
Required 1 Required 2
Assume that the company produces and sells 81,000 units during the year at a selling price of $11.62 per unit. Prepare a
contribution format income statement for the year.
Note: Round your intermediate calculations to 2 decimal places.
Harris Company
Contribution Format Income Statement
< Required 1
Required 2
expand button
Transcribed Image Text:Required 1 Required 2 Assume that the company produces and sells 81,000 units during the year at a selling price of $11.62 per unit. Prepare a contribution format income statement for the year. Note: Round your intermediate calculations to 2 decimal places. Harris Company Contribution Format Income Statement < Required 1 Required 2
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