Tyare Corporation Had the Following Inventory Balances at the Beginning

question 313

Multiple Choice

Tyare Corporation had the following inventory balances at the beginning and end of May: 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 amount of direct labor cost in the May 30 Work in Process inventory was:

• A) $4,200
• B) $5,250
• C) $4,950
• D) $9,450

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Definitions:

Transpiration

The method through which water is transported within plants from the roots to tiny openings under the leaves, transforming into vapor there and then being emitted into the air.

Evaporation

Evaporation is the process by which water is transformed from a liquid state into vapor, often driven by heat and leading to the cooling of surfaces.

Species

A collection of living beings comprised of comparable individuals who have the ability to exchange genetic material or reproduce with one another.

Water Cycle

The endless cycle of water moving across, above, and beneath the Earth's surface, which includes activities like evaporation, condensation, precipitation, and infiltration.