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 52,000 to 92,000 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 82,000 units during the year at a selling price of $9.55 per unit. Prepare a contribution format income statement for the year.

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.)

	Units Produced and Sold
	52,000	72,000	92,000
Total costs:
Variable cost	$119,600
Fixed cost	450,000	450,000	450,000
Total costs	$569,600	$450,000	$450,000
Cost per unit:
Variable cost
Fixed cost
Total cost per unit	$0.00	$0.00	$0.00

Assume that the company produces and sells 82,000 units during the year at a selling price of $9.55 per unit. Prepare a contribution format income statement for the year.

Harris Company
Contribution Format Income Statement
Sales	$783,100
Variable expenses	(328,000)
Contribution margin
Fixed expense
Net operating income

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Expert Solution

ekkarill92 answered 1 year ago

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