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 $31,100 of indirect materials) $335,900 Direct labor (including $46,700 maintenance salaries) 311,000 Factory overhead: Supervisor salaries 286,100 Heat, light, and power 77,800 Sales salaries 192,800 Promotional expenses 174,200 Insurance and property taxes—plant 84,000 Insurance and property taxes—corporate offices 121,300 Depreciation—plant and equipment 68,400 Depreciation—corporate offices 49,800 Total $1,701,300 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Cost of direct materials used in production $ ____ Direct labor ____ Factory overhead: Maintanance salaries $ _____ Indirect materials ____ Supervisor salaries ____ Heat, light, and power ____ Insurance and property taxes-plant ____ Depreciation-plant and equipment _____ _____ Total manufacturing costs incurred
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.
For the Quarter Ended June 30
Materials used in production (including $31,100 of indirect materials) $335,900
Direct labor (including $46,700 maintenance salaries) 311,000
Factory overhead:
Supervisor salaries 286,100
Heat, light, and power 77,800
Sales salaries 192,800
Promotional expenses 174,200
Insurance and property taxes—plant 84,000
Insurance and property taxes—corporate offices 121,300
Depreciation—corporate offices 49,800
Total $1,701,300
Marching Ants Inc.
Manufacturing Costs
For the Quarter Ended June 30
Cost of direct materials used in production $ ____
Direct labor ____
Factory overhead:
Maintanance salaries $ _____
Indirect materials ____
Supervisor salaries ____
Heat, light, and power ____
Insurance and property taxes-plant ____
Depreciation-plant and equipment _____ _____
Total manufacturing costs incurred $ _____
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