The following report was prepared to evaluate the performance of the plant manager at Marching Ants Inc.
Question:
The following report was prepared to evaluate the performance of the plant manager at Marching Ants Inc.
Marching Ants Inc. |
Manufacturing costs |
For the quarter ended June 30, 2016 |
1 | Materials used in production (including $52,800 of indirect materials) | $616,000.00 |
2 | Direct labor (including maintenance wages of $83,800) | 565,500.00 |
3 | Factory overhead: | |
4 | Supervisor Salaries | 521,000.00 |
5 | Heat, light and energy | 140,800.00 |
6 | sales wages | 347,800.00 |
7 | promotional expenses | 320,000.00 |
8 | Insurance and property taxes—plant | 151,500.00 |
9 | Insurance and property taxes: corporate offices | 218,600.00 |
10 | Depreciation: plant and equipment | 124,750.00 |
11 | Depreciation: corporate offices | 85,000.00 |
12 | Total | $3,090,950.00 |
Evaluate and correct this report.
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac