Problem 1-24 Different Cost Classifications for Different Purposes [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5) Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $ 69,000 $ 35,000 $ 15,000 28,000 $ 43,000 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 $ 12,000 18,000 $ 30,000 $ 4,000 25,000 $ 29,000 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? Required 1 Required 2 Required 3 Required 4 Required 5 1. With respect to cost classifications for preparing financial statements: What is the total product cost? What is the total period cost? 1a. Total product cost 1b. Total period cost Required 1 Required 2 > 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 2. With respect to cost classifications for assigning costs to cost objects: What is total direct manufacturing cost? What is the total indirect manufacturing cost? 2. Total direct manufacturing cost 26. Total indirect manufacturing cost Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4. Required 5 3. With respect to cost classifications for manufacturers: What is the total manufacturing cost? What is the total nonmanufacturing cost? What is the total conversion cost and prime cost? Show less 3a. Total manufacturing cost 3b. Total nonmanufacturing cost 3c. Total conversion cost Total prime cost
