Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dozier Company produced and sold 1000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Dozier Company produced and sold 1000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 79,000 Direct labor $ 40,000 Variable manufacturing overhead $ 19,000 Fixed manufacturing overhead 31,000 Total manufacturing overhead $ 50,000 Variable selling expense $ 14,000 Pixed selling expense 22,000 Total selling expense $ 36,000 Variable administrative expense $ 5,000 Fixed administrative expense 27,000 Total administrative 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 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? c. What is the variable cost per unit produced and sold? 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? Complete this question by entering your answers in the tabs below. Pro 1 of 5 Next > c. What is the variable cost per unit produced and sold? 5. With respect to cost classifications for decision making: a. If Dozier had produced 1,001 units instead of 1,000 units, how much increme make the additional unit? Complete this question by entering your answers in the tabs below. Required 1 Required 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? 1a. Total product cost 1b. Total period 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? c. What is the variable cost per unit produced and sold? 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 manufactur make the additional unit? Complete this question by entering your answers in the tabs below. Required 1 Required 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 L. Widt is the variable cost per unit produced and sold? 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 make the additional unit? Complete this question by entering your answers in the tabs below. Required 5 Required 1 Required 2 Required) Required 4 Required 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? 3a. Total manufacturing cost 3b. Total nonmanufacturing cost 3c. Total conversion cost 3c. Total prime cost Dr 5 Next 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? 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 wo make the additional unit? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requlled 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 4a. Total variable manufacturing cost 4b. Total fixed cost 4c. Variable cost per unit produced and sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Microsoft Excel And Access 20 For Accounting

Authors: Glenn Owen

5th Edition

133751229X, 9781337512299

More Books

Students also viewed these Accounting questions