Business, 09.05.2020 07:57 paaoolav

Tyare Corporation had the following inventory balances at the beginning and end of May:
May 1 May 30
Raw materials $ 25,500 $ 30,000
Finished Goods $ 75,000 $ 66,000
Work in Process $ 13,500 $ 16,500
During May, $58,500 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 300 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 $7,050 of direct materials cost. The Corporation incurred $42,000 of actual manufacturing overhead cost during the month and applied $39,600 in manufacturing overhead cost.
The direct materials cost in the May 1 Work in Process inventory account totaled:
a) $9,900
b) $5,400
c) $9,000
d) $4,500

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

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