oncom%2Fpaamweb%2Findexhtrm0%23%2F https/ DULE 2 CHAPTER 1 6 4 Exercise 1-11 Cos
ID: 2331584 • Letter: O
Question
oncom%2Fpaamweb%2Findexhtrm0%23%2F https/ DULE 2 CHAPTER 1 6 4 Exercise 1-11 Cost Behavior; Contribution Format Income Statement [101-4. L01 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 64,000 to 104,000 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 sels 94,000 units during the year at a selling price of $927 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 uni variabile cost and fixed cost to 2 decimal places)Explanation / Answer
Answer:
1
Units Produced and Sold
64000
84000
104000
Total costs:
Variable costs
262400
344400
426400
Fixed costs
350,000
350,000
350,000
Total costs
612,400
694,400
776,400
Cost per unit:
Variable cost
4.1
4.1
4.1
Fixed cost
5.47
4.17
3.37
Total cost per unit
9.57
8.27
7.47
2
Herris Company
Contribution Format Income Statement
Sales(94,000 units × $9.27 per unit)
871380
Variable expenses (94,000 units × $4.1 per unit)
385400
Contribution margin
485980
Fixed expenses
350,000
Net operating income
135,980
Units Produced and Sold
64000
84000
104000
Total costs:
Variable costs
262400
344400
426400
Fixed costs
350,000
350,000
350,000
Total costs
612,400
694,400
776,400
Cost per unit:
Variable cost
4.1
4.1
4.1
Fixed cost
5.47
4.17
3.37
Total cost per unit
9.57
8.27
7.47
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