FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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.)
Note: Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as
positive values.
Direct materials 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
Case 1
10,000
11,000
8,600
5,900
3,900
7,900
Case 2
12,500
25,000
9,200
46,000
11,300
33,000
Case 3
14,100
27,300
7,500
22,001
5,400
39,000
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Transcribed Image Text: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.) Note: Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as positive values. Direct materials 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 Case 1 10,000 11,000 8,600 5,900 3,900 7,900 Case 2 12,500 25,000 9,200 46,000 11,300 33,000 Case 3 14,100 27,300 7,500 22,001 5,400 39,000
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