The following is a manufacturing cost report of Marching Ants Inc. Marching Ants Inc. Manufacturing Costs...

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The following is a manufacturing cost report of Marching Ants Inc. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Materials used in production (including $52,600 of indirect materials) Direct labor (including $78,800 maintenance salaries) Factory overhead: Supervisor salaries-plant Heat, light, and power-plant Sales salaries Promotional expenses Insurance and property taxes-plant Insurance and property taxes-corporate offices Depreciation-plant and equipment Depreciation-corporate offices $567,600 525,600 483,600 131,400 325,900 294,300 141,900 205,000 115,600 84,100 $2,875,000 Total a. 1. Select the correct sentence for errors in the preceding report. 1. The maintenance salaries of $78,800 and indirect materials of $52,600 should be included as factory overhead. 2. The indirect materials of $52,600 should be included as factory overhead. 3. The maintenance salaries of $78,800 should be included as factory overhead. 4. Half of the maintenance salaries of $78,800 and Indirect materials of $52,600 should be included as factory overhead. a. 2. Select the correct sentence for errors in the preceding report. 1. Sales salaries, promotional expenses, corporate office insurance and property taxes, and corporate office depreciation should not be included in factory overhead. 2. Promotional expenses, corporate office insurance and property taxes, and corporate office depreciation should not be included in factory overhead. 3. Sales salaries, promotional expenses, corporate office insurance and property taxes should not be included in factory overhead. 4. Half of sales salaries, promotional expenses, corporate office insurance and property taxes, and corporate office depreciation should not be included in factory overhead. b. Prepare a corrected report. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Factory overhead: Total Total factory overhead 69 00 The following is a manufacturing cost report of Marching Ants Inc. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Materials used in production (including $52,600 of indirect materials) Direct labor (including $78,800 maintenance salaries) Factory overhead: Supervisor salaries-plant Heat, light, and power-plant Sales salaries Promotional expenses Insurance and property taxes-plant Insurance and property taxes-corporate offices Depreciation-plant and equipment Depreciation-corporate offices $567,600 525,600 483,600 131,400 325,900 294,300 141,900 205,000 115,600 84,100 $2,875,000 Total a. 1. Select the correct sentence for errors in the preceding report. 1. The maintenance salaries of $78,800 and indirect materials of $52,600 should be included as factory overhead. 2. The indirect materials of $52,600 should be included as factory overhead. 3. The maintenance salaries of $78,800 should be included as factory overhead. 4. Half of the maintenance salaries of $78,800 and Indirect materials of $52,600 should be included as factory overhead. a. 2. Select the correct sentence for errors in the preceding report. 1. Sales salaries, promotional expenses, corporate office insurance and property taxes, and corporate office depreciation should not be included in factory overhead. 2. Promotional expenses, corporate office insurance and property taxes, and corporate office depreciation should not be included in factory overhead. 3. Sales salaries, promotional expenses, corporate office insurance and property taxes should not be included in factory overhead. 4. Half of sales salaries, promotional expenses, corporate office insurance and property taxes, and corporate office depreciation should not be included in factory overhead. b. Prepare a corrected report. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Factory overhead: Total Total factory overhead 69 00

Answer rating: 100% (QA)

a 1 The correct sentence is The indirect materials of 52600 should be included as factory overhead I... View the full answer