Question

Marching Ants Inc.

Manufacturing Costs

For the Quarter Ended June 30

1	Materials used in production (including $55,600 of indirect materials)	$617,000.00
2	Direct labor (including $83,800 maintenance salaries)	567,500.00
3	Factory overhead:
4	Supervisor salaries-plant	521,500.00
5	Heat, light, and power-plant	140,800.00
6	Sales salaries	348,000.00
7	Promotional expenses	315,000.00
8	Insurance and property taxes—plant	151,800.00
9	Insurance and property taxes—corporate offices	219,200.00
10	Depreciation—plant and equipment	123,000.00
11	Depreciation—corporate offices	85,000.00
12	Total	$3,088,800.00

Evaluate and correct this report. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.

Answer 1

Computation of Manufacturing Cost: Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Particulars Amount($) Amount($) Cost of direct materials used ($617000 - $55600] $ 5,61,400 Direct labor $567500 - $83800] $ 4,83,700 Factory Overhead: Indirect materials $ 55,600 Maintenance salaries $ 83,800 Supervisor salaries $ 5,21,500 Heat, light, and power $ 1,40,800 Insurance and property taxes-plant $ 1,51,800 Depreciation-plant and equipment 1,23,000 $ 10,76,500 Total manufacturing costs incurred $ 21,21,600 $ * Kindly Comment down for any clarifications/ queries and please upvote.