Tyare Corporation had the following inventory balances at the beginning and end of May: May 1May 30Raw materials$25,500 $30,000 Finished Goods$75,000 $66,000 Work in Process$13,500 $16,500 During May, $58,500 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 300 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 $7,050 of direct materials cost. The Corporation incurred $42,000 of actual manufacturing overhead cost during the month and applied $39,600 in manufacturing overhead cost.The direct
materials cost in the May 1 Work in Process inventory account totaled:
A. $9,000
B. $4,500
C. $9,900
D. $5,400
Answer: D
You might also like to view...
Apostrophes should not be used with which of the following?
A) proper nouns ending in s B) plural nouns C) possessive nouns
Alex has set a goal for Haley to sell 25 gym memberships this month. Alex realizes that Haley may feel apprehensive about trying to sell such a large amount of memberships in one month, but she believes the challenge will motivate her into achieving the goal. This scenario reflects which characteristic of goal setting theory?
a. Specific goals b. Difficult goals c. Goal acceptance and commitment d. Feedback
The product development team ensures compatibility of the proposed product with corporate strategy and regulatory standards in the:
A) design stage. B) analysis stage. C) development stage. D) full launch stage.
The Bankruptcy Reform Act contains chapters which deal with:I. Individuals. II. Corporations. III. Municipal governments.
A. Only I and III B. Only II and III C. I, II, and III D. Only I and II