wa Raw materials Finished Goods Work in Process May 1 $27,500 $77,000 $15, see May 30 $34, eee $70,000 $16,888 During May. 560,500 in raw materials (all direct materials) were drawn from inventory and used in production. The companys predetermined overhead rate was $12 per direct labor hour, and it paid its direct labor workers $15 per hour. A total of 340 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 $7.250 of direct materials cost. The Corporation incurred $42,600 of actual manufacturing overhead cost during the month and applied $40.800 in manufacturing overhead cost The actual direct labor hours worked during May totaled