LO 5 Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,950 of direct materials, $6,990 of direct labor, and $9,978 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.70 per direct labor-hour During May, the following activity was recorded Raw materials (all direct materials) Beginning balance Purchased during the month Used in production Labori Direct labor-hours worked during the month Direct labor cost incurred Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 301 $8,650 $38,150 $39,450 2,050 $24,660 $33,450 7 $16,976 Work in process inventory on May 30 contains $3,768 of direct labor cost. Raw materials consist solely of items that are classified as direct materials The cost of goods manufactured for May was: