![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?](http://img.homeworklib.com/questions/5e8b7920-7291-11ea-8531-2f2a583fec1d.png?x-oss-process=image/resize,w_560)
Homework Answers
| 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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Problem 1-24 Different Cost Classifications for Different Purposes [LO1-1, LO1-2, L01-3, LO1-4, LO1-5] Dozier Company produced...
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plzz help Problem 1-24 Different Cost Classifications for Different Purposes [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5] Dozier...
plzz help
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View previous att Problem 1-24 Different Cost Classifications for Different Purposes (LO1-1, LO1-2, LO1-3, LO1-4, LO1-5]...
View previous att 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 $...
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accounting experts ? please help! Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, L01-2, L01-3,...
accounting experts ? please help!
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, L01-2, 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: $ 80,000 $ 40,500 $ 19,400 31,300 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 $...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the...
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, een $15,000 28,000 $ 43, eee 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 25,00 $29,000 Regulred: 1. With respect to cost classifications for preparing financial statements...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $ 86,000 $ 43,500 $ 21,800 33, 100 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 $ 54,900 $ 15,400 24,800 $ 40,200 $ 5,700 28,400 $ 34,100 Required: 1. With respect to cost...
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plzz help
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: $ 82,000 $ 41,500 Direct materials Direct labor $ 20,200 31,900 Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense $52,100 $ 14,600 23,200 $ 37,800 $ 5,300 Fixed administrative...
View previous att 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 $...
Problem 1-24 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 and expenses fo the month: $ 85,000 $ 43,000 $ 21,400 32,800 $ 54,200 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 $ 15,200 24,400 $...
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accounting experts ? please help!
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