E2-6 (Algo) Finding Unknown Values in the Cost of Goods Manufactured Report [LO 2-3,2-6] Mulligan Manufacturing Company uses a job order cost system with 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 dollar. Enter all amounts as positive values.) Case 9,900 14,000 17,000 12,500 24,500 28,500 8,100 Direct material used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Ending finished goods inventory Cost of goods sold 8,200 4.100 8,100 44,000 11,200 17,001 3,800 8,500 6,600 37.000 37.000 Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs $346,890 57,500 140,500 226,374 43,900 34,250 18,500 56,000 22,200 $946,024 Required: 1. Calculate the predetermined overhead rate per direct lobor hour if the average direct labor rate is $1301 per hour 2. Determine the amount of applied overhead if 17,600 actual hours are worked in the upcoming year, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $13.01 per hour. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per DL Hour Prey 1 of 3 Next > Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow. Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs $346,880 57,500 140,500 226, 374 43,900 34,250 18,500 56.890 22 200 $946,924 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $13.01 per hour 2. Determine the amount of applied overhead if 17,600 actual hours are worked in the upcoming year Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount of applied overhead if 17,600 actual hours are worked in the upcoming year. (Round your intermediate calculations to 2 decimals. Round your final answer to the nearest whole dollar.) Applied Overhead Prey 1 of 3 !!! Next >
