Question

Harris Company manufactures and sells a sinle product. A partially completed schedule of the company's total...

Harris Company manufactures and sells a sinle product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 59,000 to 99,000 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 89,000 units during the year at a selling price of $8.53 per unit. Prepare a contribution format income statement for the year.

compelte 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)

Units Produced and Sold 59,000 79,000 99,000

Total costs:

Variable cost $182,900

Fixed cost 350,000

Total costs $532,900   

Homework Answers

Answer #1

Solution 1:

Units produced and sold 59000 79000 99000
Total costs:
Variable cost $182,900.00 $244,900.00 $306,900.00
Fixed cost $350,000.00 $350,000.00 $350,000.00
Total costs $532,900.00 $594,900.00 $656,900.00
Variable cost per unit $3.10 $3.10 $3.10
Fixed cost per unit $5.93 $4.43 $3.54
Total cost per unit $9.03 $7.53 $6.64

solution 2:

Contribution format Income Statement
Particulars Amount
Sales $759,170.00
Variable costs $275,900.00
Contribution margin $483,270.00
Fixed costs $350,000.00
Net operating income $133,270.00
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