Tyare Corporation had the following inventory balances at the beginning and end of May May 1 Raw materials Finished Goods Work in Process May 30 $26,500 32,000 $76,000 68,000 $14,500 $16,654 During May, $59,500 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 320 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 $7150 of direct materials cost. The Corporation incurred $42,300 of actual manufacturing overhead cost during the month and applied $40,200 in manufacturing overhead cost The actual direct labor-hours worked during May totaled: Multiple Choice 3,840 hours 3,525 hours 3,350 hours 2.820 hours