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In: Accounting

The following report was prepared for evaluating the performance of the plant manager of Marching Ants...

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 $52,400 of indirect materials)	$611,000.00
2	Direct labor (including $84,400 maintenance salaries)	567,500.00
3	Factory overhead:
4	Supervisor salaries	515,500.00
5	Heat, light, and power	141,400.00
6	Sales salaries	347,400.00
7	Promotional expenses	314,000.00
8	Insurance and property taxes—plant	151,600.00
9	Insurance and property taxes—corporate offices	218,800.00
10	Depreciation—plant and equipment	123,750.00
11	Depreciation—corporate offices	90,000.00
12	Total	$3,080,950.00

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.

Labels

For the Month Ended June 30

For the Quarter Ended June 30

For the Year Ended June 30

Amount Descriptions

Cost of direct materials used in production

Depreciation-corporate offices

Depreciation-plant and equipment

Direct labor

Heat, light, and power

Indirect materials

Insurance and property taxes-corporate offices

Insurance and property taxes-plant

Maintenance salaries

Materials used in production (including indirect materials)

Promotional expenses

Sales salaries

Supervisor salaries

Total manufacturing costs incurred

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
10

Solutions

Expert Solution

	Marching Ants Inc.
	Manufacturing Costs
	For the Quarter Ended June 30 or For the Year Ended June 30
1	Cost of direct materials used in production		$558,600
2	Direct labor		$483,100
3	*Factory overhead:*
4	Indirect materials	$52,400
5	Maintenance salaries	$84,400
6	Depreciation-plant and equipment	$123,750
7	Insurance and property taxes-plant	$151,600
8	Heat, light, and power	$141,400
9			$553,550
10	Total manufacturing costs incurred		$1,595,250

ekkarill92 answered 2 years ago

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