Question: Check my workCheck My Work button is now enabled 1 Item 7 Dozier Company produced and sold 1 , 0 0 0 units during its

Check my workCheck My Work button is now enabled1Item 7
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 $ 86,000
Direct labor $ 43,500
Variable manufacturing overhead $ 21,800
Fixed manufacturing overhead 33,100
Total manufacturing overhead $ 54,900
Variable selling expense $ 15,400
Fixed selling expense 24,800
Total selling expense $ 40,200
Variable administrative expense $ 5,700
Fixed administrative expense 28,400
Total administrative expense $ 34,100
Required:
With respect to cost classifications for preparing financial statements:
What is the total product cost?
What is the total period cost?
With respect to cost classifications for assigning costs to cost objects:
What is total direct manufacturing cost?
What is the total indirect manufacturing cost?
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?
With respect to cost classifications for predicting cost behavior:
What is the total variable manufacturing cost?
What is the total fixed cost for the company as a whole?
What is the variable cost per unit produced and sold?
With respect to cost classifications for decision making:
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?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!