Dozier Company produced and sold 1,000 units during its first month of operation

Question

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 Fixed nanufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense 86,090 43,588 21,800 33,100 $54,98e $ 15,400 24,880 $ 40,28e $ 5,700 28,400 $ 34,180 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. Prev 1 of 3 Score answer > o OneNoteXMission and Task Practice#01-Goo." DOLL

Explanation / Answer

1) total product cost 184,400 answer total period cost 74300 answer total product cost Direct materials 86,000 direct labor 43,500 total manufacturing overhead 54,900 total product cost 184,400 total period cost total selling expense 40,200 total administrative expense 34,100 total period cost 74,300 2) total direct manufacturing cost 129,500 answer total indirect manufacturing cost 54900 answer total direct manufacturing cost direct materials 86,000 direct labor 43,500 total direct manufacturing cost 129,500 total indirect manufacturing cost Variable manufacturing overhead 21,800 fixed manufacturing overhead 33,100 total indirect manufacturing cost 54,900 3a) Total manufacturing cost Direct materials 86,000 direct labor 43,500 Manufacturing overhead Variable manufacturing overhead 21,800 fixed manufacturing overhead 33,100 54,900 total manufacturing cost 184,400 answer b) total nonmanufacturing cost total selling expense 40,200 total administrative expense 34,100 total non manufacturing cost 74,300 answer c) conversion cost direct labor 43,500 Manufacturing overhead Variable manufacturing overhead 21,800 fixed manufacturing overhead 33,100 21,800 conversion cost 65,300 answer prime cost Direct materials 86,000 direct labor 43,500 prime cost 129,500 answer 4) total manufacturing cost 151,300 answer total fixed cost 86,300 answer variable cost per unit produced and sold 172 answer (rounded off) total manufacturing cost direct materials 86,000 direct labor 43,500 variable manufacturing overhead 21,800 total variable manufacturing cost 151,300 fixed manufacturing overhead 33,100 fixed selling expense 24,800 fixed administrative expense 28,400 total fixed cost 86,300 variable cost per unit produced and sold direct materials 86,000 direct labor 43,500 variable manufacturing overhead 21,800 variable selling expense 15,400 variable administrative expense 5,700 total variable cost (a) 172,400 number of units produced and sold (b) 1,000 variable cost per unit produced and sold 172 5) incremental cost per unit produced 151 answer (151300/1000)*1

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