Business, 06.03.2020 21:53 freemankellie

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $ 26,000 $ 31,000 Finished Goods $ 75,500 $ 67,000 Work in Process $ 14,000 $ 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 $7,100 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 direct materials cost in the May 1 Work in Process inventory account totaled:

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Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30...

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