AM 1 (CH13) 6 Help Save & Exit Submit Tyare Corporation had the following inventory balances at the beginning and end of May 23 Raw materials Finished Goods Work in Process May 1May 3 34,000 $47,000 $83,500 $83,008 $22,000 $17,809 During May, $67,000 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 470 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 $7900 of direct materials cost The Corporation incurred $44,550 of actual manufacturing overhead cost during the month and applied $44,700 in manufacturing overhead cost The amount of direct labor cost in the May 30 Work in Process inventory was Multiple Choice ere to search