Mulligan Manufacturing Company uscs a job order cost system with overhead applie

Question

Mulligan Manufacturing Company uscs a job order cost system with overhead applied to products at a rate of 150 percent of direct labor ccet Required: Trea ng ea h ca e independen selected romthe manui turng da grven e v nd the m wng amounts Yuu should do hem m he urder sted nt r he manu acur g costs ase Ow 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.) nrs so ve come son costs and en e ermure how muc 1 that is recr s or and Direcleril used Direct labor Manutach ing ovethead appled otal cument mantacung cats Deginning wwork in process i Endingwark in process inwcrtory Cost of goods maniactured Begiring finisted goo invenury Ending liished goods imertory Cost of goods sold 18,000 12.600 12.000 12.5 400 ,300 7.000 8,500 47,000 12.000 9,001 3,600 7.200 .000 11.001 38,000

Explanation / Answer

Solution :

Particulars Case 1 Case 2 Case 3 Direct material used $18,000.00 $5,667.00 $12,600.00 Direct Labor $12,000.00 $8,333.00 $6,840.00 Manufacturing overhead (150% of DL cost) $18,000.00 $12,500.00 $10,260.00 Total current manufacturing costs $48,000.00 $26,500.00 $29,700.00 Beginning WIP $9,400.00 $29,000.00 $7,800.00 Ending WIP $5,300.00 $8,500.00 $28,499.00 Cost of goods manufactured $52,100.00 $47,000.00 $9,001.00 Beginning finished goods inventory $3,600.00 $12,000.00 $38,999.00 Ending finished goods inventory $7,200.00 $21,000.00 $7,000.00 Cost of goods sold $48,500.00 $38,000.00 $41,000.00

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