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dbomb1 dbomb1
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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$29,500$38,000
Finished Goods$79,000$74,000
Work in Process$17,500$17,116

During May, $62,500 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 380 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 $7,450 of direct materials cost. The Corporation incurred $43,200 of actual manufacturing overhead cost during the month and applied $42,000 in manufacturing overhead cost.

The direct materials cost in the May 1 Work in Process inventory account totaled:



▸ $12,940

▸ $7,240

▸ $11,800

▸ $5,700
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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ftricey04ftricey04
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dbomb1 Author
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A year ago
You make an excellent tutor!
Morgan-C
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Yesterday
Good timing, thanks!
aznzergs
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2 hours ago
This helped my grade so much Perfect
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