(answered) – 1 Yoder Furniture Works Yoder Furniture Works manufactures aDescriptionSolution downloadThe QuestionHello,I have another assignment, are you available? I have attached the spreadsheet.Based on the above information, answer the following questions:Classify costs as either product costs or period costs using the format shown below. Enter the dollar amount for each cost in the appropriate column and total each classification.ItemProduct CostsPeriod CostsDirect MaterialsDirect LaborManufacturing OverheadClassify costs as either variable costs or fixed costs. Assume there are no mixed costs. Enter the dollar amount for each cost in the appropriate column and total each classification. Use the format shown below. Assume that Utilities for production equipment and factory building are a fixed costItemVariable CostsFixed CostsTotal CostsPrepare a schedule of cost of goods manufactured for the month of January 2015.Determine the per-unit cost of producing a chair.Identify the type of product costing system that is probably using at this time. How did you make this determination?Would you recommend that Yoder use a different product costing system? Why or why not?Determine the per-unit variable cost of a chair.Determine the per-unit contribution margin and the contribution margin percentage.Determine the breakeven point in units and in sales dollars.Prepare flexible budgets for manufacturing costs for activity levels of 700 and 800 chairs per month.1Yoder Furniture WorksYoder Furniture Works manufactures a high-quality, wooden rocker-recliner. A key differentiating featureof this rocker-recliner is the ease with which a hand-operated lever raises and lowers the footrest. Yoderleft the prototype phase and began commercial production on January 1, 2015. A retired accountant ofthe founder, Steve Yoder, maintained the accounting records on a temporary basis through January 31,2015. Now, Yoder is searching for a replacement. Potential candidates are being asked to evaluate theinformation from the first month of commercial operation as follows:Cost informationAdministrative expensesAdvertising expensesCash account balance, January 1, 2015Depreciation on production equipment and factory buildingDepreciation on administrative officesInsurance on production equipment and factory buildingAdministrative supplies expenseProperty taxes on production equipment and factory buildingSales commissionsUtilities for production equipment and factory buildingWages paid to production workersDirect materials inventory, January 1, 2015Direct materials inventory, January 31, 2015Direct materials purchases during January 2015Work in process inventory, January 1, 2015Work in process inventory, January 31, 2015Finished goods inventory, January 1, 2015$22,00011,70002,0007501,70055042518,7001,65067,8000083,400000Production and sales informationUnits produced during January 2015Units sold during January 2015Sales price per unit600490$500Based on the above information, answer the following questions:1. Classify costs as either product costs or period costs using the format shown below. Enter thedollar amount for each cost in the appropriate column and total each classification.ItemDirect MaterialsProduct CostsDirect LaborPeriod CostsManufacturingOverhead2. Classify costs as either variable costs or fixed costs. Assume there are no mixed costs. Enter thedollar amount for each cost in the appropriate column and total each classification. Use theformat shown below. Assume that Utilities for production equipment and factory building are afixed cost2ItemVariable CostsFixed CostsTotal Costs3. Prepar
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