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Classifying Costs The following is a manufacturing cost report of Marching Ants Inc. Evaluate and correct...

  1. Classifying Costs

    The following is a manufacturing cost report 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
    $69,800 of indirect materials) $753,500
    Direct labor (including $104,700 maintenance salaries) 697,700
    Factory overhead:
    Supervisor salaries—plant 641,900
    Heat, light, and power—plant 174,400
    Sales salaries 432,600
    Promotional expenses 390,700
    Insurance and property taxes—plant 188,400
    Insurance and property taxes—corporate offices 272,100
    Depreciation—plant and equipment 153,500
    Depreciation—corporate offices 111,600
    Total $3,816,400
    Marching Ants Inc.
    Manufacturing Costs
    For the Quarter Ended June 30
    $
    Factory overhead:
    $
    Total factory overhead
    Total manufacturing costs $

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Expert Solution

Marching Ants Inc.
Manufacturing Costs
For the Quarter Ended June 30
Direct material used in production ($753,500-69,800) $683,700
Direct labor cost (697,700-104700) 593,000
Factory overhead:
Indirect materials $69,800
Maintenance salary 104700
Supervisor salaries—plant 641900
Heat, light, and power—plant 174400
Insurance and property taxes—plant 188400
Depreciation—plant and equipment 153500
Total factory overhead 1,332,700
Total manufacturing costs $2,609,400

ekkarill92 answered 3 years ago
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