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Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,600 of direct materials, $6,966 of direct
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,600 of direct materials, $6,966 of direct labor, and $10,160 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.00 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance $ 9,300 Purchased during the month $38,800 Used in production $40,100 Labor: Direct labor-hours worked during the month 2,700 Direct labor cost incurred $25,310 Actual manufacturing overhead costs incurred $34,100 Inventories: Raw materials, May 30 Work in process, May 30 ? $17,145 Work in process inventory on May 30 contains $3,885 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The balance in the raw materials inventory account on May 30 was:
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