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:
| Direct materials | $ | 75,000 | ||||
| Direct labor | $ | 38,000 | ||||
| Variable manufacturing overhead | $ | 17,400 | ||||
| Fixed manufacturing overhead | 29,800 | |||||
| Total manufacturing overhead | $ | 47,200 | ||||
| Variable selling expense | $ | 13,200 | ||||
| Fixed selling expense | 20,400 | |||||
| Total selling expense | $ | 33,600 | ||||
| Variable administrative expense | $ | 4,600 | ||||
| Fixed administrative expense | 26,200 | |||||
| Total administrative expense | $ | 30,800 | ||||
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?
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?
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|
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 answer to the nearest whole dollar amount.)
Show less
|
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? (Round your answer to the nearest whole dollar amount.)
|
Homework Answers
Solution:
1 a.
| Direct materials | $75,000 |
| Direct labor | $38,000 |
| Total manufacturing overhead | $47,200 |
| Total product cost | $160,200 |
1 b.
| Total selling expenses |
$33,600 |
| Total administrative expenses | $30,800 |
| Total period costs | $64,400 |
1
| a. | Total product cost | $160,200 |
| b. | Total period cost | $64,400 |
2.a.
| Direct materials | $75,000 |
| Direct labor | $38,000 |
| Total direct manufacturing costs | $113,000 |
2b.
Total indirect manufacturing costs =Total manufacturing overhead =$47,200
2.
| a. | Total direct manufacturing cost | $113,000 |
| b. | Total indirect manufacturing cost | $47,200 |
3 a.
| Direct materials | $75,000 | |
| Direct labor | $38,000 | |
| Total manufacturing overhead |
$47,200 |
|
| Total manufacturing cost | $160,200 |
3b.
| Total selling expenses | $33,600 |
| Total administrative expenses | $30,800 |
| Total non- manufacturing costs | $64,400 |
3c.1
| Direct materials | $75,000 |
| Direct labor | $38,000 |
| Total prime costs | $113,000 |
3c.2
| Direct labor | $38,000 |
| Total manufacturing overhead | $47,200 |
| Total conversion costs | $85,200 |
3.
| a. | Total manufacturing cost | $160,200 |
| b. | Total non - manufacturing cost | $64,400 |
| c. | Total prime cost | $113,000 |
| Total conversion cost | $85,200 |
4.a.
| Direct materials | $75,000 |
| Direct labor | $38,000 |
| Variable manufacturing overhead | $17,400 |
| Total variable manufacturing overhead | $130,400 |
4b.
| Fixed manufacturing overhead | $29,800 |
| Fixed selling expenses | $20400 |
| Fixed administrative expenses | $26,200 |
| Total fixed cost | $76,400 |
4c.
Variable cost per unit =(direct materials + direct labor+variable manufacturing overhead+variable selling expenses + variable administrative expenses) /total units
=($75,000 + $38,000 + $17,400+$13,200 + $4,600) /1000
=$148200/1000 units
$148.2
Or $148
| a. | Total variable manufacturing overhead | $130400 |
| b. | Total fixed cost | $76,400 |
| c. | Variable cost per unit | $148 |
5.
Incremental cost per unit =(direct materials + direct labor + variable overhead) /1000
=($75000 + 38000+$17,400) /1000units
$130400 /1000 units
=$130.4
Or $130
Incremental cost per unit produced =$130
Add Answer to:
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