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16 April, 16:39

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 for preparing financial statements: a. What is the total product cost

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  1. 16 April, 16:49
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    Product cost = $153,600

    Explanation:

    Giving the following information:

    Direct materials $ 72,000

    Direct labor $ 36,500

    Variable manufacturing overhead $16,200

    Fixed manufacturing overhead 28,900

    Total manufacturing overhead $ 45,100

    The product cost is the sum of direct material, direct labor, and total manufacturing overhead.

    Product cost = 72,000 + 36,500 + 45,100

    Product cost = $153,600
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