Business, 04.06.2020 22:58 casynlee6488

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $ 35,000 $ 49,000 Finished Goods $ 84,500 $ 85,000 Work in Process $ 23,000 $ 17,963 During May, $68,000 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 490 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 $8,000 of direct materials cost. The Corporation incurred $44,850 of actual manufacturing overhead cost during the month and applied $45,300 in manufacturing overhead cost. The actual direct labor-hours worked during May 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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