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 $54,900 of indirect materials) Direct labor (including $82,400 maintenance salaries) Factory overhead: 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 Total Marching Ants Inc. Factory overhead: $593,400 549,400 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Total manufacturing costs incurred 505,400 137,400 340,600 307,700 148,300 214,300 120,900 87,900 $3,005,300
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 $54,900 of indirect materials) Direct labor (including $82,400 maintenance salaries) Factory overhead: 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 Total Marching Ants Inc. Factory overhead: $593,400 549,400 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Total manufacturing costs incurred 505,400 137,400 340,600 307,700 148,300 214,300 120,900 87,900 $3,005,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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
$54,900 of indirect materials)
Direct labor (including $82,400 maintenance salaries)
Factory overhead:
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
Total
Marching Ants Inc.
Factory overhead:
$593,400
549,400
Marching Ants Inc.
Manufacturing Costs
For the Quarter Ended June 30
Total manufacturing costs incurred
505,400
137,400
340,600
307,700
148,300
214,300
120,900
87,900
$3,005,300
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