Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dapper Corporation had only one job in process on May 1. The job had been charged with $1,300 of direct materials, $3,680 of direct labor,
Dapper Corporation had only one job in process on May 1. The job had been charged with $1,300 of direct materials, $3,680 of direct labor, and $5,940 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.80 per direct labor-hour. During May, the following activity was recorded: |
Raw materials (all direct materials): | |
Beginning balance | $ 17,700 |
Purchased during the month | $20,300 |
Used in production | $35,900 |
Labor: | |
Direct labor-hours worked during the month | 2,450 |
Direct labor cost incurred | $30,380 |
Actual manufacturing overhead costs incurred | $38,800 |
Inventories: | |
Raw materials, May 30 | ? |
Work in process, May 30 | $18,200 |
Work in process inventory on May 30 contains $2,728 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: |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started