Harris Company manufactures and sells a single product Required arially complete

Question

Harris Company manufactures and sells a single product Required arially completed schedule of the company's total and per unit oosts over the relevant range of 85.000 to 105.000 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 S 65,000 Total costs Variable costs Fixed costs S 195,000 $095,000 Total costs Cost per unit Variable cost Foxed cost Total cost per unit 2. Assume that the company produces and sells 95,000 unts during the year a: a unit. Prepare a contribution format income statement for the year Harris Company Contribution Format Income Statement Type here to search CD

Explanation / Answer

Variable cost/unit and Total fixed cost do not change with change in units.

65000 85000 105000 Total costs: Variable cost 195000 255000 315000 Fixed costs 500,000 500,000 500,000 Total costs 695000 755000 815000 Cost per unit: Variable cost $3 $3 $3 Fixed cost (500,000/65000)=$7.69 (500,000/85000)=$5.88 (500,000/105000)=$4.76 Total cost per unit $10.69 $8.88 $7.76

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