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Raw materials Finished Goods Work in Process O $9585 $4260 Question 23 Tyare Corporation had the following inventory balances at the beginning and end of May $4975 During May, $61,000 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 350 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 $7300 of direct materials cost. The Corporation incurred $42,750 of actual manufacturing overhead cost during the month and applied $41,100 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: O $5325 May 1 $ 28,000 $ 77,500 $ 16,000 May 30 $ 35,000 $ 71,000 $ 16,885

Raw materials Finished Goods Work in Process O $9585 $4260 Question 23 Tyare Corporation had the following inventory balances at the beginning and end of May $4975 During May, $61,000 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 350 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 $7300 of direct materials cost. The Corporation incurred $42,750 of actual manufacturing overhead cost during the month and applied $41,100 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: O $5325 May 1 $ 28,000 $ 77,500 $ 16,000 May 30 $ 35,000 $ 71,000 $ 16,885

FINANCIAL ACCOUNTING
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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Raw materials Finished Goods Work in Process O $9585 $4260 Question 23 Tyare Corporation had the following inventory balances at the beginning and end of May $4975 During May, $61.000 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 350 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 $7300 of direct materials cost. The Corporation incurred $42,750 of actual manufacturing overhead cost during the month and applied $41,100 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: O $5325 May 1 $ 28,000 $ 77,500 $ 16,000 May 30 $ 35,000 $ 71,000 $ 16,885
Transcribed Image Text:Raw materials Finished Goods Work in Process O $9585 $4260 Question 23 Tyare Corporation had the following inventory balances at the beginning and end of May $4975 During May, $61.000 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 350 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 $7300 of direct materials cost. The Corporation incurred $42,750 of actual manufacturing overhead cost during the month and applied $41,100 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was: O $5325 May 1 $ 28,000 $ 77,500 $ 16,000 May 30 $ 35,000 $ 71,000 $ 16,885
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