Compute the amount of direct materials used during May if $50 of raw materials were purchased during the month and the inventories were as follows: Balances Inventories May 1 May 31 Raw materials $ 10 $ 6 Work in process 26 32 Finished goods 50 54 A) $54 B) $46 C) $ 38 D) $32 All of the following could be found in a company's accounting records except: A) Selling and administrative costs. B) sunk costs C) overhead costs. D) opportunity costs. Which of the following is the most probable reason a company would experience an unfavorable labor rate variance and a favorable labor efficiency variance? A) Defective materials caused more labor to be used in order to produce a unit. B) Utility costs in the factory skyrocketed during a very hot summer. C) The workers used were heavily weighted towards the use of higher paid, experienced individuals. D) The workers used were heavily weighted towards the use of new relatively low paid, unskilled workers