Dillon Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any under or overapplied overhead cost is closed out to Cost of Goods Sold at the end of the month. During May, the following transactions were recorded by the company: Raw materials (all direct materials):
Purchased during the month $38,000
Used in production $35,000
Labor:
Direct labor hours worked during the month 3,150
Direct labor cost incurred $30,000
Manufacturing overhead cost incurred (total) $24,500
Inventories:
Raw materials (all direct), May 31 $8,000
Work in process, May 1 $9,000
Work in process, May 31 $12,000*
*Contains $4,400 in direct labor cost.
92. The balance on May 1 in the Raw Materials inventory account was:
A) $11,000
B) $5,000
C) $7,000
D) $9,000
93. The amount of direct materials cost in the May?

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Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above