Homework Answers
| 1 | |||
| Indirect materials and maintenance salaries should be included separately as factory overhead. | |||
| 2 | |||
| Sales salaries,
Promotional expenses, Insurance and property taxes-corporate office
and Depreciation-corporate offices are incorrectly included in factory overhead |
|||
| These items should not be included as factory overhead. | |||
| MARCHING ANTS INC. | |||
| Manufacturing Costs | |||
| For the Quarter Ended June 30 | |||
| Cost of direct materials used in production | 551300 | ||
| Direct labor | 478100 | ||
| Factory overhead: | |||
| Maintenance salaries | 84400 | ||
| Indirect materials | 56200 | ||
| Supervisor salaries-plant | 517500 | ||
| Heat, light, and power-plant | 140650 | ||
| Insurance and property taxes—plant | 151900 | ||
| Depreciation—plant and equipment | 123750 | 1074400 | |
| Total | 2103800 | ||
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Chapter 15 Introduction to Managerial Accounting EX 15-9 Classifying costs The following is a manufacturing cost...
Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be...
Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Resins for body wash products b. Scents and fragrances used in making soaps and detergents c. Plant manager salary for the Iowa City, lowa, plant d. Depreciation on the Auburn, Maine, manufacturing plant e. Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant f. Maintenance supplies g....
I nformation technology support staff salane Insurance costs A Maintenance costs of right of way, bridges,...
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...
Classifying Costs The following report was prepared for evaluating the performance of the plant manager of...
Classifying Costs The following report was prepared for evaluating the performance of the plant manager 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 $47,200 of indirect materials) $509,900 Direct labor (including $70,800 maintenance salaries) 472,100 Factory overhead: Supervisor salaries 434,300 Heat, light, and power 118,000 Sales salaries 292,700 Promotional expenses 264,400 Insurance and property taxes—plant 127,500 Insurance and property taxes—corporate offices 184,100 Depreciation—plant...
Wh-signLWA LESSIVIILUDSRL - Hanprolase eBook Calculator Classifying Costs The following report was prepared for ev...
Wh-signLWA LESSIVIILUDSRL - Hanprolase eBook Calculator Classifying Costs The following report was prepared for evaluating the performance of the plant manager 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 $42,600 of indirect materials) $459,500 Direct labor (including $63,800 maintenance salaries) 425,500 Factory overhead: Supervisor salaries 391,500 Heat, light, and power 106,400 Sales salaries 263,800 Promotional expenses 238,300 Insurance and property taxes-plant Insurance and...
Sales salaries .... Promotional expenses......... Insurance and property taxes-plant............ Insurance and property taxes--corporate offices........ Depreciation--plant and...
Sales salaries .... Promotional expenses......... Insurance and property taxes-plant............ Insurance and property taxes--corporate offices........ Depreciation--plant and equipment. Depreciation--corporate offices ......... Total ..................................................... 348,750 315,000 151,900 219,400 123,750 90,000 $3,076,950 EX 15-10 Financial statements of a manufacturing firm Obj. 4 The following events took place for Digital Vibe Manufacturing Company during March, the first month of its operations as a producer of digital video monitors: A. Purchased $168,500 of materials. B. Used $149,250 of direct materials in production. 2 C. Incurred...
#6 Instructions Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 5607,000.00 1 Materials...
#6
Instructions Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 5607,000.00 1 Materials used in production (including 553,400 of indirect materials) 2 Direct labor (including $84.200 maintenance salaries) 561,000.00 3 Factory overhead: Supervisor salaries-plant 519,000.00 Heat, light, and power plant 141,200.00 Sales salaries 347,000.00 Promotional expenses 313,000.00 Insurance and property taxes-plant 151,000.00 Insurance and property taxes-Corporate offices 218,800.00 125,000.00 Depreciation-plant and equipment 11 Depreciation--corporate offices 89.000.00 12 Total $3,072,000.00 F Classifying costs Instructions Amount Descriptions Manufacturing Costs...
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Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 1 Materials used in production...
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...
Managerial Accounting Concepts and Principles )Classifying costs as materials, labor, or factory overhead EX 1-2 Tedicate...
Managerial Accounting Concepts and Principles )Classifying costs as materials, labor, or factory overhead EX 1-2 Tedicate whether the following costs of Procter & Gamble, a maker of consumer products, weuld be classified as direct materials cost, direct labor cost, or factory overhead cost. 08,2 a. Plant manager salary for the lowa City, lowa, plant b. Maintenance supplies c. Salary of process engineers d. Wages paid to Packaging Department employees in the Bear River City, Utah, paper products plant e. Scents...
Accounting 2120 Chapter 15 - Managerial Accounting Assignment 3 II. Classifying Costs, Calculating Cost of Goods...
Accounting 2120 Chapter 15 - Managerial Accounting Assignment 3 II. Classifying Costs, Calculating Cost of Goods Manufactured, and Preparing an Income Statement Madison Company has the following information available: Cost Amount Amount Cost Depreciation - Factory Equipment 1,100 Indirect Labor 3,000 4,000 15,550 Factory Utilities Factory Maintenance Production Supervisor's Salary Sales Commissions 30,000 120,000 48,990 Direct Labor Wages 14,000 Direct Material Purchases 98,000 Depreciation Office Equipment 1,500 Factory Insurance President's Salary 2,000 Office Utilities 3,800 12,500 Cash 62,300 Accounts Receivable...
Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Resins for body wash products b. Scents and fragrances used in making soaps and detergents c. Plant manager salary for the Iowa City, lowa, plant d. Depreciation on the Auburn, Maine, manufacturing plant e. Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant f. Maintenance supplies g....
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...
Wh-signLWA LESSIVIILUDSRL - Hanprolase eBook Calculator Classifying Costs The following report was prepared for evaluating the performance of the plant manager 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 $42,600 of indirect materials) $459,500 Direct labor (including $63,800 maintenance salaries) 425,500 Factory overhead: Supervisor salaries 391,500 Heat, light, and power 106,400 Sales salaries 263,800 Promotional expenses 238,300 Insurance and property taxes-plant Insurance and...
Sales salaries .... Promotional expenses......... Insurance and property taxes-plant............ Insurance and property taxes--corporate offices........ Depreciation--plant and equipment. Depreciation--corporate offices ......... Total ..................................................... 348,750 315,000 151,900 219,400 123,750 90,000 $3,076,950 EX 15-10 Financial statements of a manufacturing firm Obj. 4 The following events took place for Digital Vibe Manufacturing Company during March, the first month of its operations as a producer of digital video monitors: A. Purchased $168,500 of materials. B. Used $149,250 of direct materials in production. 2 C. Incurred...
#6
Instructions Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 5607,000.00 1 Materials used in production (including 553,400 of indirect materials) 2 Direct labor (including $84.200 maintenance salaries) 561,000.00 3 Factory overhead: Supervisor salaries-plant 519,000.00 Heat, light, and power plant 141,200.00 Sales salaries 347,000.00 Promotional expenses 313,000.00 Insurance and property taxes-plant 151,000.00 Insurance and property taxes-Corporate offices 218,800.00 125,000.00 Depreciation-plant and equipment 11 Depreciation--corporate offices 89.000.00 12 Total $3,072,000.00 F Classifying costs Instructions Amount Descriptions Manufacturing Costs...
Chapter 15 Introduction to Managerial Accounting Obj. 3 FX 15-10 Manufacturing company balance sheet partial balance sheet data for Diesel Additives Company at August 31 are is Finished goods inventory S 89,400 Supplies Prepaid insurance 9,000 Materials inventory Accounts receivable 348.200 Cash Work in process inventory 61,100 $ 13,800 26,800 167,500 Prepare the "Current assets" section of Diesel Additives Company's balance sheet at Augus EX 15-11 Cost of direct materials used in production for a manufacturing company Walker Manufacturing Company...
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