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Business, 06.05.2020 02:24 meyeroppelt

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 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 actual direct labor-hours worked during May totaled:

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Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30...
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