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Problem 1-24 Different Cost Classifications for Different Purposes [L01-1, LO1-2, LO13, LOI-4, LO Dozier Company produced and sold 1,000 units during its first month of
Problem 1-24 Different Cost Classifications for Different Purposes [L01-1, LO1-2, LO13, LOI-4, LO 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 Variable manufacturing overhead $20,200 Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense 5,300 Fixed administrative expense Total administrative expense $82,000 $41,500 31,900 $52,100 $14,600 23,200 $37,800 27,600 $32,900 Required: 1. With respect to cost classifications for preparing financial statements: 2. With respect to cost classifications for assigning costs to cost objects: 3. With respect to cost classifications for manufacturers a. What is the total product cost? b. What is the total period cost? a. What is total direct manufacturing cost? b. What is the total indirect manufacturing cost? 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? 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? 5. With respect to cost classifications for decision making
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