Question

In: Accounting

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 $ 80,000
Direct labor $ 40,500
Variable manufacturing overhead $ 19,400
Fixed manufacturing overhead 31,300
Total manufacturing overhead $ 50,700
Variable selling expense $ 14,200
Fixed selling expense 22,400
Total selling expense $ 36,600
Variable administrative expense $ 5,100
Fixed administrative expense 27,200
Total administrative expense $ 32,300

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?

Solutions

Expert Solution

1) total product cost 171,200 answer
total period cost 68900 answer
total product cost
Direct materials 80,000
direct labor 40,500
total manufacturing overhead 50,700
total product cost 171,200
total period cost
total selling expense 36,600
total administrative expense 32,300
total period cost 68,900
2) total direct manufacturing cost 120,500 answer
total indirect manufacturing cost 50700 answer
total direct manufacturing cost
direct materials 80,000
direct labor 40,500
total direct manufacturing cost 120,500
total indirect manufacturing cost
Variable manufacturing overhead 19,400
fixed manufacturing overhead 31,300
total indirect manufacturing cost 50,700
3a) Total manufacturing cost
Direct materials 80,000
direct labor 40,500
Manufacturing overhead
Variable manufacturing overhead 19,400
fixed manufacturing overhead 31,300 50,700
total manufacturing cost 171,200 answer
b) total nonmanufacturing cost
total selling expense 36,600
total administrative expense 32,300
total non manufacturing cost 68,900 answer
c) conversion cost
direct labor 40,500
Manufacturing overhead
Variable manufacturing overhead 19,400
fixed manufacturing overhead 31,300 50,700
conversion cost 91,200 answer
prime cost
Direct materials 80,000
direct labor 40,500
prime cost 120,500 answer
4) total variable manufacturing cost 139,900 answer
total fixed cost 80,900 answer
variable cost per unit produced and sold 159.20 answer
total manufacturing cost
direct materials 80,000
direct labor 40,500
variable manufacturing overhead 19,400
total variable manufacturing cost 139,900
fixed manufacturing overhead 31,300
fixed selling expense 22,400
fixed administrative expense 27,200
total fixed cost 80,900
variable cost per unit produced and sold
direct materials 80,000
direct labor 40,500
variable manufacturing overhead 19,400
variable selling expense 14,200
variable administrative expense 5,100
total variable cost (a) 159,200
number of units produced and sold (b) 1,000
variable cost per unit produced and sold 159.20
5) incremental cost per unit produced 139.9 answer
(139900/1000)*1

Related Solutions

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 $ 73,000 Direct labor $ 37,000 Variable manufacturing overhead $ 16,600 Fixed manufacturing overhead 29,200 Total manufacturing overhead $ 45,800 Variable selling expense $ 12,800 Fixed selling expense 19,600 Total selling expense $ 32,400 Variable administrative expense $ 4,400 Fixed administrative expense 25,800 Total administrative expense $ 30,200 Required: 1. With respect to cost classifications...
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: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 Material $77,000 Direct Labor $39,000 Variable Manufacturing Overhead $18,200 Fixed Manufacturing Overhead $30,400 Total Manufacturing Overhead $48,600 Variable Selling expense $13,600 Fixed Selling expense $21,200 Total Selling expense $34,800 Variable Administrative expense $4,800 Fixed...
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 $ 84,000 Direct labor $ 42,500 Variable manufacturing overhead $ 21,000 Fixed manufacturing overhead 32,500 Total manufacturing overhead $ 53,500 Variable selling expense $ 15,000 Fixed selling expense 24,000 Total selling expense $ 39,000 Variable administrative expense $ 5,500 Fixed administrative expense 28,000 Total administrative expense $ 33,500 Required: 1. With respect to cost classifications...
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 $ 82,000 Direct labor $ 41,500 Variable manufacturing overhead $ 20,200 Fixed manufacturing overhead 31,900 Total manufacturing overhead $ 52,100 Variable selling expense $ 14,600 Fixed selling expense 23,200 Total selling expense $ 37,800 Variable administrative expense $ 5,300 Fixed administrative expense 27,600 Total administrative expense $ 32,900 Required: 1. With respect to cost classifications...
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 $ 85,000 Direct labor $ 43,000 Variable manufacturing overhead $ 21,400 Fixed manufacturing overhead 32,800 Total manufacturing overhead $ 54,200 Variable selling expense $ 15,200 Fixed selling expense 24,400 Total selling expense $ 39,600 Variable administrative expense $ 5,600 Fixed administrative expense 28,200 Total administrative expense $ 33,800 Required: 1. With respect to cost classifications...
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 $ 77,000 Direct labor $ 39,000 Variable manufacturing overhead $ 18,200 Fixed manufacturing overhead 30,400 Total manufacturing overhead $ 48,600 Variable selling expense $ 13,600 Fixed selling expense 21,200 Total selling expense $ 34,800 Variable administrative expense $ 4,800 Fixed administrative expense 26,600 Total administrative expense $ 31,400 Required: 1. With respect to cost classifications...
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 $ 72,000 Direct labor $ 36,500 Variable manufacturing overhead $ 16,200 Fixed manufacturing overhead 28,900 Total manufacturing overhead $ 45,100 Variable selling expense $ 12,600 Fixed selling expense 19,200 Total selling expense $ 31,800 Variable administrative expense $ 4,300 Fixed administrative expense 25,600 Total administrative expense $ 29,900 Required: 1. With respect to cost classifications...
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 $ 74,000 Direct labor $ 37,500 Variable manufacturing overhead $ 17,000 Fixed manufacturing overhead 29,500 Total manufacturing overhead $ 46,500 Variable selling expense $ 13,000 Fixed selling expense 20,000 Total selling expense $ 33,000 Variable administrative expense $ 4,500 Fixed administrative expense 26,000 Total administrative expense $ 30,500 3. With respect to cost classifications for...
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 $ 74,000 Direct labor $ 37,500 Variable manufacturing overhead $ 17,000 Fixed manufacturing overhead 29,500 Total manufacturing overhead $ 46,500 Variable selling expense $ 13,000 Fixed selling expense 20,000 Total selling expense $ 33,000 Variable administrative expense $ 4,500 Fixed administrative expense 26,000 Total administrative expense $ 30,500 4. With respect to cost classifications for...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month:
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 $ 82,000Direct labor $ 41,500Variable manufacturing overhead$ 20,200 Fixed manufacturing overhead31,900 Total manufacturing overhead $ 52,100Variable selling expense$ 14,600 Fixed selling expense23,200 Total selling expense $ 37,800Variable administrative expense$ 5,300 Fixed administrative expense27,600 Total administrative expense $ 32,900 Required:1. With respect to cost classifications for preparing financial statements:a. What is the total product cost?b. What...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT