Due Thursday, October 3 Name (Please Print) 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: Raw Materials (all Direct Materials) Beginning Inventory $8,500 Purchased During Month $20,000 Used In Production $28,400 Labor: Direct labor-hours worked during 1,500 month Direct Labor cost incurred $19,050 Actual manufacturing costs incurred $29,700 Inventories: Raw Materials, May 30 Work in Process, May 30 $13,362 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. 1) The direct materials cost in the May 30 work in process inventory account was: $5,680 $19,900 $8,400 $11,500 2) The cost of goods manufactured for May was: $78,500 $78,100 $77,150 $74,822 To earn credit, you must show your work below for the problems