Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 $35,000 $49,000 $84,500 $85,000 $23,000 $17,963 Raw materials Finished Goods Work in Process Multiple Choice $5,535 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 amount of direct labor cost in the May 30 Work in Process inventory was: $9,963 Saved $4,428 < Prev 15 of 15 ⠀ Help Next Save & Exit Submit

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 $35,000 $49,000 $84,500 $85,000 $23,000 $17,963 Raw materials Finished Goods Work in Process Multiple Choice $5,535 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 amount of direct labor cost in the May 30 Work in Process inventory was: $9,963 Saved $4,428 < Prev 15 of 15 ⠀ Help Next Save & Exit Submit

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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