The correct spelling of the word "mullally" is actually "Mullally." It is pronounced as /məˈlæli/ in the International Phonetic Alphabet (IPA). The word is a surname of Irish origin, and its pronunciation follows the common phonetic rules of the English language. The "u" in "Mullally" is pronounced as "uh," the "a" is pronounced as "æ," and the double "l" is pronounced with a slight emphasis on the second "l." Overall, the spelling and pronunciation of "Mullally" are straightforward and phonetically consistent.