Tya re Corporation had the following inventory balances at the beginning and end of May: Hay 1 May 30 Raw materials $29,500 $38,000 Finished Goods $?9,080 $?4,880 Work in Process $1?,588 $1?,116 During May, $62,500 in raw materials {all direct materials} were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct laborhour, and it paid its direct labor workers $15 per hour. A total of 380 hours of direct labor time had been expended on thejobs in the beginning Work in Process inventory account The ending Work in Process inventory account contained $7,450 of direct materials cost. The Corporation incurred $43,200 of actual manufacturing overhead cost during the month and applied $42,000 in manufacturing overhead cost