Business, 15.02.2022 14:00 Hjackson24

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30
Raw materials $32,500 $44,000
Finished Goods $82,000 $80,000
Work in Process $20,500 $17,578

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 amount of direct labor cost in the May 30 Work in Process inventory was:

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

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