tyare corporation

Tyare Corporation had the following inventory balances at the beginning and end of May. Raw materials Finished Goods Work in Process May 1 $ 26,000 $75,500 $14,000 May 30 $31,000 $67,000 $ 16,567 During May, $59,000 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 310 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 $7100 of direct materials cost. The Corporation incurred $42,150 of actual manufacturing overhead cost during the month and applied $39,900 in manufacturing overhead cost. The raw materials purchased during May totaled: Multiple Choice ( $59,000 0 $68,433 0 $54,000 564,000