Harris Company manufactures and sells a single product. A partially completed schedule of the companyâs 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 companyâs total costs and costs per unit as given in the relevant tab below.
Complete the schedule of the companyâs 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 66,000 86,000 106,000 Total costs: Variable costs $250,800 Fixed costs 380,000 Total costs $630,800 Cost per unit: Variable cost Fixed cost Total cost per unit
2. Assume that the company produces and sells 96,000 units during the year at a selling price of $9.22 per unit. Prepare a contribution format income statement for the year.
Assume that the company produces and sells 96,000 units during the year at a selling price of $9.22 per unit. Prepare a contribution format income statement for the year.
Harris Company Contribution Format Income Statement
Harris Company manufactures and sells a single product. A partially completed schedule of the companyâs 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 companyâs total costs and costs per unit as given in the relevant tab below.
Complete the schedule of the companyâs 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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2. Assume that the company produces and sells 96,000 units during the year at a selling price of $9.22 per unit. Prepare a contribution format income statement for the year.
Assume that the company produces and sells 96,000 units during the year at a selling price of $9.22 per unit. Prepare a contribution format income statement for the year.
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Related questions
Martinez Companyâs relevant range of production is 7,500 unitsto 12,500 units. When it produces and sells 10,000 units, itsaverage costs per unit are as follows:
| Average Cost Per Unit | |||
| Directmaterials | $ | 6.40 | |
| Direct labor | $ | 3.90 | |
| Variable manufacturingoverhead | $ | 1.40 | |
| Fixed manufacturingoverhead | $ | 4.00 | |
| Fixed selling expense | $ | 3.40 | |
| Fixed administrativeexpense | $ | 2.10 | |
| Sales commissions | $ | 1.10 | |
| Variable administrativeexpense | $ | 0.55 | |
For financial accounting purposes, what is the total amount ofproduct costs incurred to make 10,000 units?
Kubin Companyâs relevant range of production is 21,000 to 25,000 units. When it produces and sells 23,000 units, its average costs per unit are as follows:
| Average Cost per Unit | ||
| Direct materials | $ | 8.10 |
| Direct labor | $ | 5.10 |
| Variable manufacturing overhead | $ | 2.60 |
| Fixed manufacturing overhead | $ | 6.10 |
| Fixed selling expense | $ | 4.60 |
| Fixed administrative expense | $ | 3.60 |
| Sales commissions | $ | 2.10 |
| Variable administrative expense | $ | 1.60 |
2. Assume the cost object is the Manufacturing Department and that its total output is 23,000 units.
a. How much total manufacturing cost is directly traceable to the Manufacturing Department?
b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?
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