Tyare Corporation had the following Inventory balances at the beginning and end of May. May 1...
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Tyare Corporation had the following Inventory balances at the beginning and end of May. May 1 $27,000 May 30 $33,000 Raw materials Finished Goods $76,500 $69,000 Work in Process $15,000 $16,731 During May. $60,000 in raw materlals (all direct materlals) 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 330 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 contalned $7,200 of direct materials cost. The Corporation Incurred $42,450 of actual manufacturing overhead cost during the month and applied $40,500 In manufacturing overhead cost. The actual direct labor-hours worked during May totaled: Multiple Cholce 3,960 hours 3,375 hours 3,538 hours 2,830 hours Tyare Corporation had the following Inventory balances at the beginning and end of May. May 1 $27,000 May 30 $33,000 Raw materials Finished Goods $76,500 $69,000 Work in Process $15,000 $16,731 During May. $60,000 in raw materlals (all direct materlals) 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 330 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 contalned $7,200 of direct materials cost. The Corporation Incurred $42,450 of actual manufacturing overhead cost during the month and applied $40,500 In manufacturing overhead cost. The actual direct labor-hours worked during May totaled: Multiple Cholce 3,960 hours 3,375 hours 3,538 hours 2,830 hours
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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