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Dapper Corporation had only one job in process on May 1. The job had been charged with $1,010 of direct materials, $3,830 of direct labor,
Dapper Corporation had only one job in process on May 1. The job had been charged with $1,010 of direct materials, $3,830 of direct labor, and $5,810 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $24.50 per direct labor-hour. During May, the following activity was recorded: |
Raw materials (all direct materials): | |
Beginning balance | $ 10,100 |
Purchased during the month | $26,200 |
Used in production | $31,900 |
Labor: | |
Direct labor-hours worked during the month | 1,660 |
Direct labor cost incurred | $21,248 |
Actual manufacturing overhead costs incurred | $38,100 |
Inventories: | |
Raw materials, May 30 | ? |
Work in process, May 30 | $15,700 |
Work in process inventory on May 30 contains $2,944 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: |
$4,400
$4,520
$4,920
$4,280
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