Please provide correct answer and thanks in advance okntencesCaw11The Dorilane Company produces a set of wood patio furniture consisting of a table and fourcustomer demand to justify producing its full capacity of 3,800 sets per year. Annual cost datDirect laborAdvertisingFactory supervisionProperty taxes, factory buildingSales commissionsInsurance, factoryDepreciation, administrative office equipmentLease cost, factory equipmentIndirect materials, factoryDepreciation, factory buildingAdministrative office supplies (billing)Administrative office salariesDirect materials used (wood, bolts, etc.)Utilities, factory$$$per set$$73,00017,00058,0007,000$2,000$ 13,000$ 20,000$ 104,0005,000< Required 1$95,00097,000Required:1. Enter the dollar amount of each cost item under the appropriate headings. Note that each costvariable or fixed with respect to the number of units produced and sold; and second, as a sellingcost. (If the item is a product cost, it should also be classified as either direct or indirect.)2. Compute the average product cost of one patio set.3. Assume that production drops to only 1,000 sets annually. Would you expect the average prodor remain unchanged?$$ 107,000$ 433,000$ 41,000Complete this question by entering your answers in the tabs below.Required 1 Required 2Required 3Compute the average product cost of one patio set. (Round your final answer to nearest whole dollar.)Average product costRequired 3 >< Prev1 of 1Next

Cost is classified into two categories: Fixed: It is the cost that remains same as a whole but…

The Dorilane Company produces a set of wood patio furniture consisting of a table and four customer demand to justify producing its full capacity of 3,800 sets per year. Annual cost dal Direct labor Advertising Factory supervision Property taxes, factory building Sales commissions Insurance, factory Depreciation, administrative office equipment Lease cost, factory equipment Indirect materials, factory Depreciation, factory building Administrative office supplies (billing) Administrative office salaries Direct materials used (wood, bolts, etc.) Utilities, factory 95,000 $ 97,000 $ 73,000 $ 17,000 $ 58,000 $ 7,000 $ 2,000 $ $ $ 13,000 20,000' $ 104,000 $ 5,000 $ 107,ᎾᎾᎾ $ 433,000 $ 41,000 Required: 1. Enter the dollar amount of each cost item under the appropriate headings. Note that each cost variable or fixed with respect to the number of units produced and sold; and second, as a selling cost. (If the item is a product cost, it should also be classified as either direct or indirect.) 2. Compute the average product cost of one patio set. 3. Assume that production drops to only 1,000 sets annually. Would you expect the average prod or remain unchanged?

The Dorilane Company produces a set of wood patio furniture consisting of a table and four customer demand to justify producing its full capacity of 3,800 sets per year. Annual cost dal Direct labor Advertising Factory supervision Property taxes, factory building Sales commissions Insurance, factory Depreciation, administrative office equipment Lease cost, factory equipment Indirect materials, factory Depreciation, factory building Administrative office supplies (billing) Administrative office salaries Direct materials used (wood, bolts, etc.) Utilities, factory 95,000 $ 97,000 $ 73,000 $ 17,000 $ 58,000 $ 7,000 $ 2,000 $ $ $ 13,000 20,000' $ 104,000 $ 5,000 $ 107,ᎾᎾᎾ $ 433,000 $ 41,000 Required: 1. Enter the dollar amount of each cost item under the appropriate headings. Note that each cost variable or fixed with respect to the number of units produced and sold; and second, as a selling cost. (If the item is a product cost, it should also be classified as either direct or indirect.) 2. Compute the average product cost of one patio set. 3. Assume that production drops to only 1,000 sets annually. Would you expect the average prod or remain unchanged?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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