Problem 1-24 Different Cost Classifications for DifferentPurposes [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5] Dozier Companyproduced and sold 1,000 units during its first month of operations.It reported the following costs and expenses for the month: Directmaterials $ 83,000 Direct labor $ 42,000 Variable manufacturingoverhead $ 20,600 Fixed manufacturing overhead 32,200 Totalmanufacturing overhead $ 52,800 Variable selling expense $ 14,800Fixed selling expense 23,600 Total selling expense $ 38,400Variable administrative expense $ 5,400 Fixed administrativeexpense 27,800 Total administrative expense $ 33,200 Required: 1.With respect to cost classifications for preparing financialstatements: a. What is the total product cost? b. What is the totalperiod cost? 2. With respect to cost classifications for assigningcosts to cost objects: a. What is total direct manufacturing cost?b. What is the total indirect manufacturing cost? 3. With respectto cost classifications for manufacturers: a. What is the totalmanufacturing cost? b. What is the total nonmanufacturing cost? c.What is the total conversion cost and prime cost? 4. With respectto cost classifications for predicting cost behavior: a. What isthe total variable manufacturing cost? b. What is the total fixedcost for the company as a whole? c. What is the variable cost perunit produced and sold? 5. With respect to cost classifications fordecision making: a. If Dozier had produced 1,001 units instead of1,000 units, how much incremental manufacturing cost would it haveincurred to make the additional unit?
