Answered step by step
Verified Expert Solution
Question
1 Approved Answer
E2-6 (Algo) Finding Unknown Values in the Cost of Goods Manufactured Report (LO 2-3, 2-6) Muligan Manufacturing Company uses a job order cost system
E2-6 (Algo) Finding Unknown Values in the Cost of Goods Manufactured Report (LO 2-3, 2-6) Muligan Manufacturing Company uses a job order cost system wah overhead applied to products at a rate of 150 percent of direct labor cost Required: Treating each case independently selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead) (Do not round your intermediate calculations. Round your final answers to the nearest whole doller. Enter all amounts as positive values.) Case 1 Case 2 Case 3 Direct material used 15,000 10,500 Direct labor 11,000 Manufacturing overhead acclied 11.500 Total current manufacturing costs 28.000 29,100 Beginning work in process inventory 1.200 6.600 Ending work in process inventory 4700 0.600 Cost of goods manufactured 47,000 2,001 Beginning finished goods inventory 4.300 10.200 Ending fnished goods inventory 1500 7.000 Cost of goods said 40,000 35.000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started