Tyare Corporation had the following inventory balances at the beginning and end of May:

May 1 May 30 Raw materials $ 28,500 $ 36,000 Finished Goods $ 78,000 $ 72,000 Work in Process $ 16,500 $ 16,962

During May, $61,500 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 360 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 $7,350 of direct materials cost. The Corporation incurred $42,900 of actual manufacturing overhead cost during the month and applied $41,400 in manufacturing overhead cost.

The raw materials purchased during May totaled:

Multiple Choice

• $69,000
• $73,038
• $54,000
• $61,500