Ouation of 12 Question 3 2.5 points The direct labor rate in Brent Company is $9.00 per hour, and manufacturing overhead is applied to products using a produtormined overtad rate of $8.00 per dvoch labor hour. During May, the company purchased $60,000 in raw materials all direct materials and worked 3.200 direct labor hours. The Raw Materials inventory (all direct materials decreased by $3,000 between the beginning and end of May. The Work in Process inventory on May 1consisted of one job which had boon charged with $3.000 in direct materials and on which 300 hours of direct labor time had been worked. There was no Work in Process inventory on May 31 The balance in the Work in Process inventory account on May 1 was $0 $8.500 $3.500 $7,500