Dozier Company produced and sold 1,000 units during its first month of operations. It reported the...
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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 Direct labor $ 83,000 $ 42,000 Variable manufacturing overhead Fixed manufacturing overhead $ 20,600 32,200 Total manufacturing overhead $ 52,800 Variable selling expense Fixed selling expense $ 14,800 23,600 Total selling expense $ 38,400 Variable administrative expense Fixed administrative expense $ 5,400 27,800 $ 33,200 Total administrative expense 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? 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 Direct labor $ 83,000 $ 42,000 Variable manufacturing overhead Fixed manufacturing overhead $ 20,600 32,200 Total manufacturing overhead $ 52,800 Variable selling expense Fixed selling expense $ 14,800 23,600 Total selling expense $ 38,400 Variable administrative expense Fixed administrative expense $ 5,400 27,800 $ 33,200 Total administrative expense 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?
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Dozier Company Cost Classifications Heres the breakdown of Dozier Companys costs based on different classifications 1 Classifications for Financial Statements a Total Product Cost This includes all co... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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