Question & Answer: Harris Company manufactures and sells a single product Required: 1. A partially completed schedule of t…..

Harris Company manufactures and sells a single product Required: 1. A partially completed schedule of the companys total and per unit costs over the relevant range of 51,000 to 91,000 units produced and sold annually is given below: Complete the schedule of the companys total and unit costs. (Round the variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 51,000 1,00091 Total costs: Variable costs $112,200 Fixed costs 370,000 Total costs $ 482,200 $ Cost per unit: Variable cost Fixed cost ral cel Per 000 5 00 5 0.00 0.00 $ 0.00 S 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $8.41 per unit. Prepare a contribution format income statement for the year Format Income Statement

Harris Company manufactures and sells a single product Required: 1. A partially completed schedule of the company’s total and per unit costs over the relevant range of 51,000 to 91,000 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 51,000 1,00091 Total costs: Variable costs $112,200 Fixed costs 370,000 Total costs $ 482,200 $ Cost per unit: Variable cost Fixed cost ral cel Per 000 5 00 5 0.00 0.00 $ 0.00 S 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $8.41 per unit. Prepare a contribution format income statement for the year Format Income Statement

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Statementshowing Computations Units produced and sold
Paticulars 51,000 Units 71,000 Units 91,000 Units
Total Costs:
Variable costs         112,200.00         156,200.00         200,200.00
Fixed costs         370,000.00         370,000.00         370,000.00
Total Costs         482,200.00         526,200.00         570,200.00
Costs per unit
Variable costs                      2.20                      2.20                      2.20
Fixed costs                      7.25                      5.21                      4.07
Total cost per unit                      9.45                      7.41                      6.27
Statementshowing Computations
Paticulars Amount
Sales = 81,000*8.41         681,210.00
Less Variable Expenses=81000*2.20         178,200.00
Contribution Margin         503,010.00
Less Fixed Expenses         370,000.00
Net operating income         133,010.00
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