18 Dacosta Corporation had only one job in process on May 1. The job had been charged with $2.050 of direct materials, $6,990 of direct labor, and $10,006 of manufacturing overhead cost. The company assignsoverhead cost to jobs using the predetermined overhead rate of $18.90 per direct labor-hour.During May, the following activity was recorded:Raw materials (all direct materials):Beginning balancePurchased during the month$ 8,750$38,250$39,550Used in productionLabor:Direct labor-hours worked during the month2,150$24,760$33,550Direct labor cost incurredActual manufacturing overhead costs incurredInventories:Raw materials, May 30Work in process, May 30$17,002Work in process inventory on May 30 contains $3,786 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.The balance in the raw materials inventory account on May 30 was:Multiple Choice$7.450$1,300

Particulars Amount ($) Beginning balance of raw materials as on May 1 $8,750 Add: Raw…

aterials (all direct materials): nning balance chased during the month d in production $ 8,750 $38,250 $39,550 ect labor-hours worked during the month ect labor cost incurred 1 manufacturing overhead costs incurred 2,150 $24,760 $33,550 tories: -materials, May 30 -k in process, May 30 $17,002 process inventory on May 30 contains $3,786 of direct labor cost. Raw materials consist solely of items that are classified as direct material lance in the raw materials inventory account on May 30 was: Multiple Choice

aterials (all direct materials): nning balance chased during the month d in production $ 8,750 $38,250 $39,550 ect labor-hours worked during the month ect labor cost incurred 1 manufacturing overhead costs incurred 2,150 $24,760 $33,550 tories: -materials, May 30 -k in process, May 30 $17,002 process inventory on May 30 contains $3,786 of direct labor cost. Raw materials consist solely of items that are classified as direct material lance in the raw materials inventory account on May 30 was: Multiple Choice

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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