Question

Check my work Different Cost Classifications for Different Purposes [L01-1, 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 anc expenses for the month: Direct materials Direct labor Variable manufacturing overheacd Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 88,006 $ 44, 500 $ 22,60e 33,700 s 56,300 $ 15,800 25,680 s 41,400 s 5,900 28,800 s 34,700

Answer 1

Ans-1-a- The Total Product Cost is computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Total Manufacturing Overhead	$56,300
Total Product Cost	$188,800

Ans-1-b- The Total Period Cost is computed as follows:-

Total Selling Expenses	$41,400
Total Administrative Expenses	$34,700
Total Period Cost	$76,100

1-a-	Total Product Cost	$188,800
1-b-	Total Period Cost	$76,100

Ans-2-a- Total Direct Manufacturing Cost is computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Total Direct Manufacturing Cost	$132,500

2-b- The Total Indirect Manufacturing Cost is computed as follows:-

Variable Manufacturing Overhead	$22,600
Fixed Manufacturing Overhead	$33,700
Total Indirect Manufacturing Cost	$56,300

2-a-	Total Direct Manufacturing Cost	$132,500
2-b-	Total Indirect Manufacturing Cost	$56,300

Ans-3-a- Total Manufacturing Cost computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Total Manufacturing Overhead	$56,300
Total Manufacturing Cost	$188,800

3-b- The Total Nonmanufacturing cost is computed as follows:-

Total Selling Expense	$ 41,400
Total Administrative Expense	$ 34,700
Total Nonmanufacturing Cost	$ 76,100

3-c- The Total Conversion Cost is computed as follows:-

Direct Labor	$44,500
Total Manufacturing Overhead	$56,300
Total Conversion Cost	$100,800

The Total Prime Cost is computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Total Prime Cost	$132,500

3-a-	Total Manufacturing Cost	$188,800
3-b-	Total Nonmanufacturing Cost	$76,100
3-c-	Total Conversion Cost	$100,800
	Total Prime Cost	$132,500

Ans-4-a- The Total Variable Manufacturing Cost is computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Variable Manufacturing Overhead	$22,600
Total Variable Manufacturing Cost	$155,100

4-b-The Total Amount of Fixed Cost for the Company as a whole is computed as follows:-

Fixed Manufacturing Overhead	$33,700
Fixed Selling Expenses	$25,600
Fixed Administrative Expenses	$28,800
Total Fixed Cost	$88,100

4-c- The Variable Cost Per Unit produced and sold is computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Total Variable Manufacturing Overhead	$22,600
Variable Selling Expenses	$15,800
Variable Administrative Expenses	$5,900
Total Variable Cost (a)	$176,800
Number of Units produced and sold (b)	1,000 units
Variable Cost per unit produced and sold (a/b)	$176.80 or $177 ($176,800/ 1,000 units)

4-a-	Total Variable Manufacturing Overhead	$155,100
4-b-	Total Fixed Cost	$88,100
4-c-	Variable Cost per unit produced and sold	$177

Ans-5-a- The Incremental Manufacturing Cost is computed as follows:-

Direct Materials	$88,000
Direct Labor	$44,500
Variable Manufacturing Overhead	$22,600
Total Incremental Cost	$155,100
Number of units produced and sold	1,000 units
Incremental Cost per unit produced	$155.10 or $155 ($155,100/ 1,000 units)

5-a-

Incremental Cost per unit produced

$155

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