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: $ 87,000 $ 44,000 Direct materials Direct labor $ 22,200 33,400 Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variab Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 55,600 $ 15,600 25,200 selling expense $ 40,800 5,800 28,600 $ 34,400 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 3 Required 1 Required 2 Required 4 Required 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 cost < Required 1 Required 2
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: $ 87,000 $ 44,000 Direct materials Direct labor $ 22,200 33,400 Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variab Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 55,600 $ 15,600 25,200 selling expense $ 40,800 5,800 28,600 $ 34,400 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 3 Required 1 Required 2 Required 4 Required 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 cost < Required 1 Required 2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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:
$ 87,000
$ 44,000
Direct materials
Direct labor
$ 22,200
33,400
Variable manufacturing overhead
Fixed manufacturing overhead
Total manufacturing overhead
Variab
Fixed selling expense
Total selling expense
Variable administrative expense
Fixed administrative expense
Total administrative expense
$ 55,600
$ 15,600
25,200
selling expense
$ 40,800
5,800
28,600
$ 34,400
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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8aeb4c9c-8d33-4b47-954d-a4d3ce02aa40%2F8990ab62-1167-4aaf-b891-6ba6344c2a21%2Fbiac9ro.png&w=3840&q=75)
Transcribed Image Text: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:
$ 87,000
$ 44,000
Direct materials
Direct labor
$ 22,200
33,400
Variable manufacturing overhead
Fixed manufacturing overhead
Total manufacturing overhead
Variab
Fixed selling expense
Total selling expense
Variable administrative expense
Fixed administrative expense
Total administrative expense
$ 55,600
$ 15,600
25,200
selling expense
$ 40,800
5,800
28,600
$ 34,400
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?
Transcribed Image Text:Complete this question by entering your answers in the tabs below.
Required 3
Required 1
Required 2
Required 4
Required 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 cost
< Required 1
Required 2
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