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 $27,500 $34,000 $77,000 $70,000 $15,500 $16,808 During May, $60,500 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 340 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 $7,250 of direct materials cost. The Corporation incurred $42,600 of actual manufacturing overhead cost during the month and applied $40,800 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was:
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 $27,500 $34,000 $77,000 $70,000 $15,500 $16,808 During May, $60,500 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 340 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 $7,250 of direct materials cost. The Corporation incurred $42,600 of actual manufacturing overhead cost during the month and applied $40,800 in manufacturing overhead cost. The amount of direct labor cost in the May 30 Work in Process inventory was:
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...
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