Meyers Corporation Had the Following Inventory Balances at the Beginning

question 136

Multiple Choice

Meyers Corporation had the following inventory balances at the beginning and end of November: During November, $39,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $8 per direct labor-hour, and it paid its direct labor workers $10 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 $4,700 of direct materials cost. The Corporation incurred $28,000 of actual manufacturing overhead cost during the month and applied $26,400 in manufacturing overhead cost. The raw materials purchased during November totaled:

• A)$42,000
• B)$45,000
• C)$36,000
• D)$39,000

---

Definitions:

Online Forum

A digital platform or website where users can post discussions and exchange views on various subjects.

Distributed Network

A network that can be used by persons located (distributed) around the country or the globe to share computer files.

Authorization

The formal permission or power granted to an individual or entity to carry out certain actions.

Stored Communications Act

A U.S. law that addresses voluntary and compelled disclosure of "stored wire and electronic communications and transactional records" by service providers.