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Tyare Corporation had the following inventory balances at the beginning and end of May May 1 $30,ee0 $79,5e0 $18,000 May 30 Raw materials $39,000 Finished

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Tyare Corporation had the following inventory balances at the beginning and end of May May 1 $30,ee0 $79,5e0 $18,000 May 30 Raw materials $39,000 Finished Goods $75,000 Work in Process $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 hour 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 $43,3 50 of actual manufacturing overhead cost during the month and applied $42,300 in manufacturing overhead cost. The direct materials cost in the May 1 Work in Process inventory account totaled: Multiple Choice $13,320 $7,470 $12,150 $5,850

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