Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dozier Company produced and sold 1,000 units during its first month of operations. it reported the following costs and expenses for the month: this is
Dozier Company produced and sold 1,000 units during its first month of operations. it reported the following costs and expenses for the month:
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 $ 79,00 Direct labor $40,000 Variable manufacturing overhead $ 19,000 Fixed manufacturing overhead 31,000 Total manufacturing overhead $50,000 Variable selling expense $ 14,000 Fixed selling expense 22.000 Total selling expense $36,000 Variable administrative expense $ 5,90 Fixed administrative expense 27.000 Total adninistrative expense $ 32,000 Required: 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 ob a What is total direct manufacturing cost? b. What is the total indirect manufacturing cost? Required: 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 a What is the total variable manufacturing cost? b. What is the total fixed cost for the company as a whole? What is the variable cost per unit produced and sold? 5. With respect to cost classifications for decision making a. If Dozier had produced 1001 units instead of 1000 units, how much incremental manufacturing cost would it have incurred to make the additional unit? Required 1 Required 2 Required 3 Required 4 Required 5 1. With respect to cost classifications for preparing financial statements: a. What is the total product cost? b. What is the total period cost? $ 169,000 1a. Total product cost 1b. Total period cost Required 22 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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 cost Required 1 Required 2 Required 3 Required 4 Required 5 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? 3a. Total manufacturing cost 3b. Total nonmanufacturing cost 3c Total conversion cost 3c. Total prime cost Required 1 Required 2 Required 3 Required 4 Required 5 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.) Show 4a Total variable manufacturing cost 4b. Total fixed cost 4c. Variable cost per unit produced and sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 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 this is a 5 part answer.
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