Q24 Dacosta Corporation had only one job in process on May 1. The job had...
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Accounting
Q24
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,650 of direct materials, $6,990 of direct labor, and $10,174 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.10 per direct labor-hour.
During May, the following activity was recorded:
Raw materials (all direct materials):
Beginning balance
$ 9,350
Purchased during the month
$ 38,850
Used in production
$ 40,150
Labor:
Direct labor-hours worked during the month
2,750
Direct labor cost incurred
$ 25,360
Actual manufacturing overhead costs incurred
$ 34,150
Inventories:
Raw materials, May 30
?question mark
Work in process, May 30
$ 17,158
Work in process inventory on May 30 contains $3,894 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
The balance in the raw materials inventory account on May 30 was:
Multiple Choice
$8,050
$1,300
$29,500
$30,800
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