Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct
1. Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $72,000 Direct labor $36, 500 Variable manufacturing overhead $16, 200 Fixed manufacturing overhead 28,900 Total manufacturing overhead $45, 100 Variable selling expense $12, 600 Fixed selling expense 19, 200 Total selling expense $31, 800 Variable administrative expense $ 4,300 Fixed administrative expense 25, 600 Total administrative expense $29, 900 Required: 1-1. 1. With respect to cost classifications for preparing financial statements: a. What is the total product cost? b. What is the total period cost? Total product cost 1b Total period cost 1-2. 2. With respect to cost classifications for assigning costs to cost objects: a. What is total direct manufacturing cost? b. What is the total indirect manufacturing cost? 2a Total direct manufacturing cost 2b Total indirect manufacturing cost1-3. 3. With respect to cost classifications for manufacturers: a. What is the total manufacturing cost? b. What is the total nonmanufacturing cost? c. What is the total conversion cost and prime cost? Total manufacturing cost 3b Total nonmanufacturing cost 30 Total conversion cost Total prime cost 1-4. 4. With respect to cost classifications for predicting cost behavior: a. What is the total variable manufacturing cost? b. What is the total fixed cost for the company as a whole? c. What is the variable cost per unit produced and sold? (Round your answer to the nearest whole dollar amount.) S 48. Total variable manufacturing cost 4b. Total fixed cost 40. Variable cost per unit produced and sold 1-5. 5. With respect to cost classifications for decision making: a. If Dozier had produced 1,001 units instead of 1,000 units, how much incremental manufacturing cost would it have incurred to make the additional unit? (Round your answer to the nearest whole dollar amount.) 5a Incremental cost per unit produced
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started