Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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:
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.) Answer is not complete. Case 1 Case 2 Case 3 Direct material used 17,000 8,667 12,600 Direct labor 14,000 6,334 Manufacturing overhead applied 21,000 13,000 Total current manufacturing costs 52,000 28,000 28,500 Beginning work in process inventory 8,100 27,600 8,800 Ending work in process inventory 4,500 8,600 Cost of goods manufactured 55,600 47,000 20,001 Beginning finished goods inventory 4,500 10,600 Ending finished goods inventory 8,100 27,600 5,400 Cost of goods sold 52.000 38,000 43.000 < Prev 3 of 9 Next >
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