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Business, 22.06.2019 21:00 nasrah

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 $ 69,000 direct labor $ 35,000 variable manufacturing overhead $ 15,000 fixed manufacturing overhead 28,000 total manufacturing overhead $ 43,000 variable selling expense $ 12,000 fixed selling expense 18,000 total selling expense $ 30,000 variable administrative expense $ 4,000 fixed administrative expense 25,000 total administrative expense $ 29,000 required: 1. with respect to cost classifications for preparing financial statements: a. what is the total product cost

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Answer from: tifftiff22

Instructions are listed below

Explanation:

Giving the following information:

Direct materials $ 69,000: Product

Direct labor $ 35,000: Product

Variable manufacturing overhead $ 15,000: Product  

Fixed manufacturing overhead 28,000: Product

Total manufacturing overhead $ 43,000

Variable selling expense $ 12,000: Period

Fixed selling expense 18,000: Period

Total selling expense $ 30,000

Variable administrative expense $ 4,000: Period

Fixed administrative expense 25,000: Period

Total administrative expense $ 29,000

First, we will determine whether they are period or product costs.

1) Total product cost= 69000 + 35000 + 43000= $147000

Total period cost= 30000 + 29000= $59000

2) Direct manufacturing overhead= variable manufacturing overhead= 15000

Indirect manufacturing overhead= fixed manufacturing overhead= $28000

3) manufacturing cost= direct labor + direct material + manufacturing overhead

manufacturing cost= 35000 + 69000 + 43000= $147,000

Total non-manufacturing cost= Total selling expense + Total administrative expense

Total non-manufacturing cost= 30000 + 29000= 59000

4)Total variable cost= 69000 + 35000 + 15000 + 12000 + 4000= $135,000

Total fixed cost=28000 + 180070 + 25000= $71000

Unitary variable cost=135,000/1000= $135

5) The cost of making one more unit is $135

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