Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

please help fast, thank you Tyare Corporation had the following inventory balances at the beginning and end of May May 1 May 30 Raw materials

please help fast, thank you image text in transcribed
image text in transcribed
Tyare Corporation had the following inventory balances at the beginning and end of May May 1 May 30 Raw materials $30,000 $39,000 Finished Goods $79,500 $75,000 Work in Process $18,000 $17,193 During May, $63,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 390 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $7,500 of direct materials cost. The Corporation incurred $43,350 of actual manufacturing overhead cost during the month and applied $42,300 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: Multiple Choice $4,308 $5,385 During May, $63,000 in raw materials (all direct materials) were drawn from inventory and usec rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 39 jobs in the beginning Work in Process inventory account. The ending Work in Process inventor Corporation incurred $43,350 of actual manufacturing overhead cost during the month and ap The amount of direct labor cost in the May 30 Work in Process inventory was: Multiple Choice $4,308 $5,385 $4,995 $9,693

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services An Integrated Approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley

11th Edition

0131867121, 978-0131867123

More Books

Students explore these related Accounting questions