Question
In: Accounting
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 costs and costs per unit over the relevant range of 66,000 to 106,000 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 96,000 units during the year at a selling price of $8.55 per unit. Prepare a contribution format income statement for the year.
Required: Complete 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.)
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Solutions
Expert Solution
Notes-
| Variable cost per unit will be same at all levels of poduction: |
| Therefore, variable cost per unit = Total variable cost/No. of units= $191400/66000 =$2.90 |
| Total Variable cost at 86000 units = No. of units x variale cost per unit = 86000 x$2.90 =$249400 |
| Total Variable cost at 106000 units = No. of units x variale cost per unit = 106000 x$2.90 =$307400 |
| Total Fixed cost will be same irrespective of the no. of units produced, That means total fixed costs at all levels of production will be $400000 |
| Fixed cost per unit at 66000 units = Total fixed cost/No. of units =$400000/66000 =$6.06 |
| Fixed cost per unit at 86000 units = Total fixed cost/No. of units =$400000/86000 =$4.65 |
| Fixed cost per unit at 106000 units = Total fixed cost/No. of units =$400000/106000 =$3.77 |
Requirement 2
ekkarill92 answered 2 years agoRelated Solutions
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