Answered step by step
Verified Expert Solution
Link Copied!

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: $ 77,000

Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month:

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

$ 77,000 $ 39,000 $ 18, 200 30,400 $ 48,600 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 13,600 21,200 $ 34,800 $ 4,800 26,600 $ 31,400 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. 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? 1a. Total product cost 16. Total period cost Required 1 Required 2 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? Show less 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 less 4a. Total variable manufacturing cost 46. 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

Contemporary Debates On Politics And Public Administration In The Postmodern Era

Authors: Ă–mer Ugur, Kadir Caner Dogan

1st Edition

3631796331, 9783631796337

More Books

Students also viewed these Accounting questions

Question

How can evaluation of LMD become more than an act of faith?

Answered: 1 week ago