Raw materials $33,500 $46,000

Finished Goods $83,000 $82,000

Work in Process $21,500 $17,732

During May, $66,500 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 460 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 $7,850 of direct materials cost. The Corporation incurred $44,400 of actual manufacturing overhead cost during the month and applied $44,520 in manufacturing overhead cost.

The actual direct labor-hours worked during May totaled:

• 2,960 hours

• 3,700 hours

• 5,520 hours

• 3,710 hours