Question
Tyre Corporation had the fullowing inventory balances at the beginning and end of May During May, $66,500 in raw materials (all direct materials were
Tyre Corporation had the fullowing inventory balances at the beginning and end of May During May, $66,500 in raw materials (all direct materials were drawn hom 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 460 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 $7,850 of direct materials cost. The Corporation incumed $44.400 of actual manufacturing overhead cost during the month and applied $44,400 in manufacturing overhead cost The drect materials cost in the May 1 Work in Process inventory account totaled Raw materials Bay 1 $33,500 May 30 $46,000 Finished Goods Work in Process $83,000 $82,000 $21,500 $17,732 Muple Choice O $5.380 $9,000 O O $4000 $6900
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