Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chapter 1 i Saved Help Save & Exit Submit Q Check my work 2 Dozier Company produced and sold 1,000 units during its first month
Chapter 1 i Saved Help Save & Exit Submit Q Check my work 2 Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: 6.66 Direct materials $ 83,000 points Direct labor $ 42,000 Variable manufacturing overhead $ 20,600 O Fixed manufacturing overhead 32, 200 Total manufacturing overhead $ 52,800 eBook Variable selling expense $ 14, 800 Fixed selling expense 23, 600 Print Total selling expense $ 38, 400 References Variable administrative expense $ 5,400 Fixed administrative expense 27, 800 Total administrative expense $ 33, 200 Required: Q 1. With respect to cost classifications for preparing financial statements: a. What is the total product cost? b. What is the total period cost? + 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? 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? 4. With respect to cost classifications for predicting cost behavior: Mc Graw HillChapter 1 0 Saved Help Save 8: Exit Submit Check my work mod : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 6.66 palms Fixed selling expense 23'600 Total selling expense $ 33,400 Variable administrative expense 5. 5,400 Fixed administrative expense 27,800 Total administrative expense 5 33,206 Required: 1. With respect to cost classifications for preparing nancial statements: a. What is the total product cost? b. What is the total period cost? 2. With respect to cost classifications for assigning costs to cost objects: a. What is total direct ma nufacturing cost? b. What is the total indirect manufacturing cost? 3. With respect to cost classications 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? 4. With respect to cost classications 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?I 5. With respect to cost classifications for decision making: Return to question A a, If Dozier had produced 1,001 units instead of1,000 units, how much incremental manufacturing cost would it have incurred to make the additional unit?
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