Classifying Costs The following report was prepared for evaluating the performance of the plant manager of Marching Ants Inc. Evaluate and correct this report. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Materials used in production (including Direct labor (including $84,400 maintenance salaries) Factory overhead: Total $56,200 of indirect materials) Factory overhead: 562,500 Supervisor salaries Heat, light, and power Sales salaries Promotional expenses Insurance and property taxes-plant Insurance and property taxes- corporate offices Depreciation-plant and equipment Depreciation- corporate offices $3,076,950 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Total manufacturing costs incurred $ $ $607,500 517,500 140,650 348,750 315,000 151,900 219,400 123,750 90,000

Classifying Costs The following report was prepared for evaluating the performance of the plant manager of Marching Ants Inc. Evaluate and correct this report. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Materials used in production (including Direct labor (including $84,400 maintenance salaries) Factory overhead: Total $56,200 of indirect materials) Factory overhead: 562,500 Supervisor salaries Heat, light, and power Sales salaries Promotional expenses Insurance and property taxes-plant Insurance and property taxes- corporate offices Depreciation-plant and equipment Depreciation- corporate offices $3,076,950 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Total manufacturing costs incurred $ $ $607,500 517,500 140,650 348,750 315,000 151,900 219,400 123,750 90,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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