Tyare Corporation had the following inventory balances at the beginning and end of May: Raw materials Finished Goods Work in Process May 1 May 30 $25,500 $30,000 $75,000 $66,000 $13,500 $16,500 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 direct materials cost in the May 1 Work in Process inventory account totaled: Multiple Choice $9,900 $5,400
Tyare Corporation had the following inventory balances at the beginning and end of May: Raw materials Finished Goods Work in Process May 1 May 30 $25,500 $30,000 $75,000 $66,000 $13,500 $16,500 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 direct materials cost in the May 1 Work in Process inventory account totaled: Multiple Choice $9,900 $5,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dineshbhai
Transcribed Image Text:Tyare Corporation had the following inventory balances at the beginning and end of May:
Raw materials
Finished Goods
Work in Process.
May 1
$25,500 $30,000
May 30
$75,000 $66,000
$13,500 $16,500
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 direct materials cost in the May 1 Work in Process inventory account totaled:
Multiple Choice
$9,900
$5,400
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