At the beginning and end of May, Ryerson Company had the following inventory balances: Raw materials....

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At the beginning and end of May, Ryerson Company had the following inventory balances: Raw materials. Finished Goods Work in Process During May, $66,500 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 460 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 $7,850 of direct materials cost. The Corporation incurred $44,400 of actual manufacturing overhead cost during the month and applied $44,400 in manufacturing overhead cost. The raw materials purchased during May totaled: Multiple Choice $66,500 $82,268 $54,000 May 1 May 30 $33,500 $46,000 $83,000 $82,000 $21,500 $17,732 $79,000 At the beginning and end of May, Ryerson Company had the following inventory balances: Raw materials. Finished Goods Work in Process During May, $66,500 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 460 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 $7,850 of direct materials cost. The Corporation incurred $44,400 of actual manufacturing overhead cost during the month and applied $44,400 in manufacturing overhead cost. The raw materials purchased during May totaled: Multiple Choice $66,500 $82,268 $54,000 May 1 May 30 $33,500 $46,000 $83,000 $82,000 $21,500 $17,732 $79,000

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