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Cost of goods manufactured, balance in the raw materials inventory account.
Dasilvia Company had only 1 job in process on May 1. The job had been charged with $1,400 of direct materials, $6,192 of direct material, and $5712 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $11.90 per direct labor hour. During May the following activity was recorded
Raw materials (all direct materials)
Beginning balance
$8,500
Purchase during the month
$48,000
Used in production
$51,800
Labor:
Direct labor-hours worked during the month
1,900
Direct labor cost incurred
$24,510
Actual manufacturing overhead costs incurred
$21,000
Inventories:
Raw material, May 30
?
Work in process, May 30
19,536
1) The cost of goods manufactured for May was:
a.$98.920
b.$92,688
c.$120,800
d.$97,310
2) The balance in the raw materials inventory account on May 30 was:
a.$4,700
b.$43,300
c.$3,800
d.9,500
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