The following report was prepared for evaluating the performance of the plant ma
ID: 2556779 • Letter: T
Question
The following report was prepared for evaluating the performance of the plant manager of Marching Ants Inc.
Marching Ants Inc.
Manufacturing Costs
For the Quarter Ended June 30
1
Materials used in production (including $55,600 of indirect materials)
$617,000.00
2
Direct labor (including $83,800 maintenance salaries)
567,500.00
3
Factory overhead:
4
Supervisor salaries
521,500.00
5
Heat, light, and power
140,800.00
6
Sales salaries
348,000.00
7
Promotional expenses
315,000.00
8
Insurance and property taxes—plant
151,800.00
9
Insurance and property taxes—corporate offices
219,200.00
10
Depreciation—plant and equipment
123,000.00
11
Depreciation—corporate offices
85,000.00
12
Total
$3,088,800.00
Evaluate and correct this report. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.
Marching Ants Inc.
Manufacturing Costs
1
2
3
Factory overhead:
4
5
6
7
8
9
10LabelsFor the Month Ended June 30For the Quarter Ended June 30For the Year Ended June 30Amount DescriptionsCost of direct materials used in productionDepreciation-corporate officesDepreciation-plant and equipmentDirect laborHeat, light, and powerIndirect materialsInsurance and property taxes-corporate officesInsurance and property taxes-plantMaintenance salariesMaterials used in production (including indirect materials)Promotional expensesSales salariesSupervisor salariesTotal manufacturing costs incurred
Marching Ants Inc.
Manufacturing Costs
For the Quarter Ended June 30
Explanation / Answer
In given solution, administrative and selling expenses also included in manufacturing cost. manufacturing cost will not consider selling and administrative expenses. also, indirect material and indirect labour needs to be consider as factory overhead.
Marching Ants Inc. Manufacturing cost For the Quarter ended June 30 Material used in production ($617,000-$55,600) $ 561,400 Direct labour ($567,500-$83,800) $ 483,700 Factory overhead Indirect material $ 55,600 Indirect labour $ 83,800 Supervisor salary $ 521,500 Heat, light and power $ 140,800 Insurance and property taxes - plant $ 151,800 Depreciation - plant and equipment $ 123,000 Total factory overhead $ 1,076,500 Total $ 2,121,600Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.