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Problem 1-24 Different Cost Classifications for Different Purposes [LO1-1, LO1-2, L01-3, 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 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 $ 89,000 $ 45,000 $ 23,000 34,000 $ 57,000 $ 16,000 26,000 $ 42,000 $ 6,000 29,000 $ 35,000 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?Complete this question by entering your answers in the tabs below. Required 1Required 2 Required 3 Required 4Required 5 1. With respect to cost classifications for preparing financial statements: a. What is the total product cost? b. What is the total period cost? 1a. Total product cost 1b. Total period costRequired 1 Required 2 Required 3 Required 4 Required 5 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? 2a. Total direct manufacturing cost 2b. Total indirect manufacturing costRequired 1 Required 2 Required 3 Required 4 Required 5 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? 3a. Total manufacturing cost 3b. Total nonmanufacturing cost 3c. Total conversion cost Total prime costRequired 1 Required 2 Required 3 Required 4 Required 5 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? (Round your answ 4a. Total variable manufacturing cost 4b. Total fixed cost 4c. Variable cost per unit produced and sold5. 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? (Round your answer to the nearest whole dollar amount.) 5a. Incremental cost per unit produced

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Answer #1
1 (a) Total Product cost:
Direct material = $     89,000
Direct labor = $     45,000
Variable manufaturing overheads = $     23,000
Fixed manufaturing overheads = $     34,000
Total Product cost = $ 1,91,000
(b) Total Period cost:
Variable selling expenses = $     16,000
Fixed selling expenses = $     26,000
Variable administrative expenses = $       6,000
Fixed administrative expenses = $     29,000
Total Period cost = $     77,000
2 (a) Total Direct manufacturing costs:
Direct material = $     89,000
Direct labor = $     45,000
Total Direct manufacturing costs = $ 1,34,000
(b) Total Indirect manufacturing costs:
Variable manufacturing overheads = $     23,000
Fixed manufacturing overheads = $     34,000
Total Indirect manufacturing costs = $     57,000
3 (a) Total Manufacturing costs:
Total Direct manufacturing costs = $ 1,34,000
Total Indirect manufacturing costs = $     57,000
Total Manufacturing costs = $ 1,91,000
(b) Total Non - manufacturing costs:
Variable selling expenses = $     16,000
Fixed selling expenses = $     26,000
Variable administrative expenses = $       6,000
Fixed administrative expenses = $     29,000
Total Non - manufacturing costs = $     77,000
(c) Total Conversion cost:
Direct labor = $     45,000
Variable manufacturing overheads = $     23,000
Fixed manufacturing overheads = $     34,000
Total Conversion cost = $ 1,02,000
Prime cost:
Direct material = $     89,000
Direct labor = $     45,000
Prime cost = $ 1,34,000
4 (a) Total Variable manufacturing cost:
Direct material = $     89,000
Direct labor = $     45,000
Variable manufaturing overheads = $     23,000
Total Variable manufacturing cost = $ 1,57,000
(b) Total Fixed cost for the company as a whole:
Fixed manufacturing overheads = $     34,000
Fixed selling expenses = $     26,000
Fixed administrative expenses = $     29,000
Total Fixed cost for the company as a whole = $     89,000
(c) Variable cost per unit produced and sold:
Direct material = $     89,000
Direct labor = $     45,000
Variable manufaturing overheads = $     23,000
Variable selling expenses = $     16,000
Variable administrative expenses = $       6,000
(i) Total Variable cost for the company as a whole = $ 1,79,000
(ii) Number of units produced =           1,000
(i) / (ii) Variable cost per unit produced and sold = $           179
5 (a) Incremental cost per unit produced:
(i) Total Variable manufacturing cost = $ 1,57,000
(ii) Number of units produced =           1,000
(i) / (ii) Incremental cost per unit produced = $           157
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