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mattfury17 mattfury17
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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$25,500$30,000
Finished Goods$75,000$66,000
Work in Process$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 raw materials purchased during May totaled:



▸ $58,500

▸ $67,500

▸ $54,000

▸ $63,000
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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julie5julie5
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