The following are the inventory balances at the beginning and end of May for Timpkin Company Raw materials Finished Goods Work in Process May 1 May 30 $27,500 $34,000 $77,000 $70,000 $15,500 $16,808 During May, $60,500 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 340 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 $7.250 of direct materials cost. The Company incurred $42,600 of actual manufacturing overhead cost during the month and applied $40,800 in manufacturing overhead cost. The direct materials cost in the May 1 Work in Process inventory account totaled: y Multiple Choice $5,100 $6,320 $10,400 $11,420