Top Posters
Since Sunday
d
4
N
3
3
R
3
k
3
o
3
Z
3
j
3
s
3
d
3
J
3
1
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
mregueral mregueral
wrote...
Go to Answer
Posts: 160
Rep: 0 0
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 actual direct labor-hours worked during May totaled:



▸ 2,800 hours

▸ 3,500 hours

▸ 3,300 hours

▸ 3,600 hours
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
Read 57 times
1 Reply
Replies
Answer verified by a subject expert
hizzy117hizzy117
wrote...
#1
Posts: 158
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

mregueral Author
wrote...

A year ago
This calls for a celebration Person Raising Both Hands in Celebration
nsak
wrote...

Yesterday
Helped a lot
ealvino1610
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1631 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 4493
  
 2640
  
 9562