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

Question

Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost.

Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed.

Required:

Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed.

Case 1 Case 2 Case 3 Direct material used 17,000 10,500 Direct labor 16,000 Manufacturing overhead applied 13,000 Total current manufacturing costs 27,000 33,000 Beginning work in process inventory 8,400 7,700 Ending work in process inventory 4,400 8,400 Cost of goods manufactured 45,000 3,001 Beginning finished goods inventory 3,500 10,200 Ending finished goods inventory 7,200 6,700 Cost of goods sold 39,000 38,000

Explanation / Answer

Case 1Case 2Case 3

Direct material used17,000533310,500

Direct labor16,0008667

Manufacturing overhead applied16,000 x 150%=2400013,000

Total current manufacturing costs5700027,00033,000

Beginning work in process inventory8,400264007,700

Ending work in process inventory4,4008,400

Cost of goods manufactured6100045,0003,001

Beginning finished goods inventory3,50010,200

Ending finished goods inventory7,200162006,700

Cost of goods sold5730039,00038,000

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