A partially completed schedule of the company’s total and per unit costs over th
ID: 2490363 • Letter: A
Question
A partially completed schedule of the company’s total and per unit costs over the relevant range of 58,000 to 98,000 units produced and sold annually is given below: Complete the schedule of the company’s total and unit costs.
Assume that the company produces and sells 88,000 units during the year at a selling price of $9.52 per unit. Prepare a contribution format income statement for the year. (Do not round intermediate calculations.)
A partially completed schedule of the company’s total and per unit costs over the relevant range of 58,000 to 98,000 units produced and sold annually is given below: Complete the schedule of the company’s total and unit costs.
Assume that the company produces and sells 88,000 units during the year at a selling price of $9.52 per unit. Prepare a contribution format income statement for the year. (Do not round intermediate calculations.)
Required 1. A partially completed schedule of the company's total and per unit costs over the relevant range of 58,000 to 98,000 units produced and sold annually is given below: Complete the schedule of the company's total and unit costs. Round the variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 58,000 78,000 98,000 Total costs 226,200 360,000 586,200 $ Variable costs 360,000 360,000 $ 360,000 360,000 Fixed costs Total costs Cost per unit: Variable cost Fixed cost Total cost per unit 0.00 0.00 2. Assume that the company produces and sells 88,000 units during the year at a selling price of $9.52 per unit. Prepare a contribution format income statement for the year. (Do not round intermediate calculations.) Harris Company Contribution Format Income Statement
Explanation / Answer
a Units Produced and Sold Sales 58000 78000 98000 TOTAL COST Variable cost 2,26,200 304200 382200 Fixed cost 3,60,000 3,60,000 3,60,000 Total Cost 5,86,200 6,64,200 7,42,200 Cost per unit : Variable cost 3.9 3.9 3.9 Fixed cost 6.21 4.62 3.67 Total Cost per unit 10.11 8.52 7.57 b. contribution format Income statement Sales 88000*9.52 837760 Variable cost 3.9*88000 343200 Contribution 494560 Fixed cost 3,60,000 Net Operating Income 1,34,560
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