1. Daane Company had only one job in process on May 1. The job had been charged with $1,000 of direct materials, $3,302 of direct labor, and $5,382 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.70 per direct labor-hour. During May, the following activity was recorded: Work in process inventory on May 30 contains $2,921 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The amount of direct materials cost in the May 30 work in process inventory account was:

   $5,680

   $19,900

   $8,400

   $11,500

   The cost of goods manufactured for May was:

   $78,500

   $78,100

   $77,150

   $74,822

   The entry to dispose of the underapplied or overapplied manufacturing overhead cost for the month would include a:

   		debit of $1,350 to Manufacturing Overhead.
   		credit of $4,761 to Manufacturing Overhead.
   		credit of $1,350 to Manufacturing Overhead.
   		debit of $4,761 to Manufacturing Overhead.

Daane Company had only one job in process on May 1. The job had been charged with $1,000 of direct materials, $3,302 of direct labor, and $5,382 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.70 per direct labor-hour. During May, the following activity was recorded:Work in process inventory on May 30 contains $2,921 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The amount of direct materials cost in the May 30 work in process inventory account was: $5,680 $19,900 $8,400 $11,500 The cost of goods manufactured for May was: $78,500 $78,100 $77,150 $74,822 The entry to dispose of the underapplied or overapplied manufacturing overhead cost for the month would include a: debit of $1,350 to Manufacturing Overhead. credit of $4,761 to Manufacturing Overhead. credit of $1,350 to Manufacturing Overhead. debit of $4,761 to Manufacturing Overhead