Question

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

Harris Company manufactures and sells a single product. A partially completed schedule of the company’s total and per-unit costs over the relevant range of 40,000 to 60,000 units produced and sold annually is given below:

  

Required:
1.

Complete the schedule of the company's total and unit costs. (Round the "Cost per unit" answers to 2 decimal places.)

Units Produced and Sold

40,000 50,000 60,000

Total Cost

Variable Cost 280,000

Fixed Cost 440,000

Total Costs 720,000

Cost Per Unit:

Variable Cost

Fixed Cost

Total Cost Per Unit

      

2.

Assume that the company produces and sells 55,000 units during a year at a selling price of $18.00 per unit. Prepare a contribution margin income statement for the year.

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