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OlKu OlKu
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A year ago

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

May 1May 30
Raw materials$28,500$36,000
Finished Goods$78,000$72,000
Work in Process$16,500$16,962

During May, $61,500 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 360 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 $7,350 of direct materials cost. The Corporation incurred $42,900 of actual manufacturing overhead cost during the month and applied $41,400 in manufacturing overhead cost.

The raw materials purchased during May totaled:



▸ $61,500

▸ $73,038

▸ $54,000

▸ $69,000
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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KFordKFord
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A year ago
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