Question

I nformation technology support staff salane Insurance costs A Maintenance costs of right of way, bridges, and buildings 4Safety training costs A Salaries of dispatching and communications personnel A Wages of switch and classification yard personnel Wages of train enninee Walker Mam Determine June 30. EX 15-8 Classifying costs EX 15-12 The following is a manufacturing cost report of Marching Ants Inc. Two item ve S165,000 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 ment dat Materials used in production (including $56.200 of indirect materials). Direct labor (including $84,400 maintenance salaries) Factory overhead Supervisor salaries-plant.... Heat, light, and power-plant. Sales salaries To $ 607,500 562.500 SHEW ME ROW 517,500 140,650 348.750 315,000 151,900 EX 15-1 Promotional expenses. Insurance and property taxes-plant.. Insurance and property taxes-corporate offices. Depreciation-plant and equipment.. Depreciation-corporate offices Total The fol 219,400 SHOW ME HOW Octobe 123,750 90,000 $3,076,950 a. List the errors in the preceding report. b. Prepare a corrected report. Deters FY 1EAancial statements of a manufacturing firm The following events took place for Sorensen Manufacturing Company during January, the month of its operations as a producer of digital video monitors: Va Net income $185,000 EX 15 vd. $470,000 a. Purchased $250.000 Tw

Answer 1

Following are the corons in the preceding Reboot -- o Andirect Material and Indirect labouo are added in direct material and direct Labour cost. ( Sales Saleries and promotional expenses are Jreported under Factory overheade. Insurance and property faves emel Depreciation - on Corporate offices alre ste borted under Factory overheads.

A: De La 5040 $ 562,560 Sol: Marching Ants Ine: Manufacturing Costa Reboot For the Quaster ended June 30, And in 1$) Material used in production $ 6.07,500 Less: Indirect materials $(56, 2007 Direet Malesial used in poduction 5,51,300 Add: Direct Labour Less: Maintenance Salaries $ 84,400) 418,100 poime Cost 10,29400 Faelory overheads :- Andired Malerial 56,200 maintenance Selanjal Indireed Labour) 84400 Supervisor Salonies.- plant 5,17,500 Heat, light and power plant 1,40,650 Insurance and property taxes - plant 1,51,900 Deprecjalion - plant and equipment Factory cost a Primecost + Factory overheads. 21,03,800 Office Overheads og Administive overheads : Insurance and property taxes-Corporate officem 2,19,400 Depreciation - Corporate office 90,000 24,13,200 Cost of production: Factory Cest+chice overheade Selling & Distoibution overheads: Sales Salamies 3A8,750 3,15,000 Promotional expenses 30,76,950 L east of sales: cost of productioneSilling expo real Jo, 1,23,750