Question: answers in details & explenations. EXERCISE 1-11 Cost Behavior; Contribution Format Income Statement L01-4, LO1-6 Harris Company manufactures and sells a single product. A partially
EXERCISE 1-11 Cost Behavior; Contribution Format Income Statement L01-4, LO1-6 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 30,000 to 50,000 units is given below: Table Summary: Table lists types of costs in first column for three different activity levels. The activity levels are shown in columns 2-4 under the spanner heading Units Produced and' Sold. A question mark is entered for each cost item for the three activity levels, except for the first three items for the 30,000 activity level where dollar amounts are shown. Required: 1. Complete the above schedule of the company's total costs and costs per unit. 2. Assume that the company produces and sells 45,000 units during the year at a selling price of $16 per unit. Prepare a contribution format income statement for the year
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